Clifford Chance

Implementing rules issued for foreign investors to access the China inter-bank bond market

1 June 2016

The Announcement No 3 issued by the People's Bank of China (PBoC) on 24 February 2016 (Announcement) opened up the China Interbank Bond Market (CIBM) to a wider group of foreign institutional investors. On 27 May 2016, PBoC Shanghai Head Office issued the long-awaited implementing rules relating to the Announcement with immediate effect. The rules on foreign exchange, fund remittance and repatriation relating to access to the CIBM were also issued by the State Administration of Foreign Exchange (SAFE) on the same day.

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