The central clearing company waives account opening fees, bringing further benefits to overseas central bank-like institutions.

On May 13, the China Central Depository & Clearing Co., Ltd. issued a notice stating that in order to implement the spirit of national tax reduction and fee reduction, further optimize the investment environment of the bond market, and promote the opening up of China's bond market, overseas central banks and similar institutions that open accounts with the Central Clearing Company through settlement agents designated by the People's Bank of China or the interbank market after January 1, 2025 will be fully exempted from the account opening fee of 500 yuan per account. Industry insiders believe that the Central Clearing Company's exemption of account opening fees this time is a concrete manifestation of implementing the national tax reduction and fee reduction policy, and it is also an important step in promoting high-level institutional opening of the bond market. "Although the scale of the fees involved in this policy is not large, it sends a positive signal, indicating that China is starting from details to continuously optimize the foreign investment experience." said a trading manager from a foreign bank.