官方发文支持境外机构投资者在中国债市开展债券回购业务

Core Points - The People's Bank of China, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly announced support for foreign institutional investors to conduct bond repurchase transactions in the Chinese bond market [1][2] - The announcement allows all types of foreign institutional investors, including central banks, sovereign wealth funds, commercial banks, and various asset management institutions, to participate in the bond repurchase business [1] - The transition period for foreign institutions already engaged in bond repurchase transactions will last for 12 months, allowing them to continue trading under the original model during this time [2] Summary by Categories Announcement Details - The announcement enables foreign institutional investors to engage in bond repurchase transactions in the interbank bond market, including those entering through the "Bond Connect" channel [1] - Types of eligible investors include foreign central banks, international financial organizations, sovereign wealth funds, commercial banks, insurance companies, and other financial institutions [1] Operational Changes - The bond repurchase business will adopt international market practices, allowing for the transfer of underlying bonds and their usability [2] - The expansion of repurchase business to all types of foreign investors enriches their liquidity management tools, helping to reduce portfolio volatility and broaden financing channels [2]