#News The People's Bank of China will work with the China Securities Regulatory Commission to study and promote RMB foreign exchange futures trading.

At the opening ceremony of the 2025 Lujiazui Forum, PBOC Governor Pan Gongsheng announced eight major financial opening-up measures.

1. Establish a trading report database for the interbank market. Collect and systematically analyze trading data from various financial sub-markets including interbank bonds, currency, derivatives, gold, and bills, to serve financial institutions, macroeconomic regulation, and financial market supervision.

2. Establish an international operation center for digital RMB. Promote the international operation and financial market business development of digital RMB, serving digital financial innovation.

3. Establish personal credit institutions. Provide financial institutions with diversified and differentiated personal credit products to further improve the social credit system.

4. Launch a pilot program for comprehensive reform of offshore trade finance services in the new Lingang area of Shanghai. Innovate business rules to support Shanghai's development of offshore trade.

5. Develop free trade offshore bonds. Follow the principle of "two ends outside" and international common rules and standards to broaden financing channels for "going global" enterprises and high-quality enterprises in countries and regions participating in the Belt and Road Initiative.

6. Optimize and upgrade the functions of free trade accounts. Achieve efficient integration of high-quality enterprises and foreign funds, enhance the level of liberalization and facilitation of cross-border trade and investment, and support Shanghai's high-level opening up to the outside world.

7. Innovate structured monetary policy tools in Shanghai as a pilot. This includes conducting blockchain letters of credit refinancing business in the shipping trade area, "cross-border trade refinancing" business, and expanding carbon emission reduction support tools, among other pilots. Actively promote the initial use of technology innovation bond risk-sharing tools in Shanghai to support private equity institutions in issuing technology innovation bonds.

8. Work with the China Securities Regulatory Commission to study and promote RMB foreign exchange futures trading. Promote the improvement of the foreign exchange market product series to better assist financial institutions and foreign trade enterprises in managing exchange rate risks.