Banking & Finance

China: PBoC Enhances Its Monetary Policy Toolbox

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Expanding Assets Eligible For Re-lending

In a low-key release over the weekend, on 10 Oct, PBoC announced that it is expanding its pilot program for banks’ assets eligible for re-lending further to include 9 additional provinces/cities, including Shanghai, Tianjin, Liaoning, Jiangsu, Beijing, Chongqing, among others, building on the pilot locations of Shandong and Guangdong that began in 2014.

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China: CIPS Propels Further RMB Internationalization

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Cross-Border Interbank Payment System Kicking Off

China announced this morning (Thur 8 Oct) another step forward in RMB internationalization, with the launch of first phase of the Cross-Border Interbank Payment System (CIPS) in Shanghai. The CIPS aims to facilitate cross-border capital settlement and clearing services transactions for financial institutions onshore China and abroad.

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