Central Bank: The domestic and foreign-funded banks should carry out relevant business operations under the unified management of the bank's headquarters.

The People's Bank of China is soliciting opinions on the relevant matters of RMB cross-border interbank financing business of banking financial institutions. It supports domestic banks to carry out RMB cross-border interbank financing business in accordance with the principles of legality, compliance, and controllable risks to meet market demand. Domestic Chinese-funded banks, foreign wholly-owned banks, and Sino-foreign joint venture banks should conduct related business under the unified management of the bank's headquarters, and in accordance with the principle of substance over form, all RMB cross-border interbank financing business should be included in the scope of management, and establish sound risk management and internal control mechanisms.