央行：拟进一步丰富“互换通”产品类型

Core Viewpoint - The article discusses the launch and ongoing development of the "Swap Connect" initiative between mainland China and Hong Kong, aimed at enhancing financial market connectivity and promoting the internationalization of the Renminbi [1][2]. Group 1: Launch and Initial Performance - The "Swap Connect" officially launched on May 15, 2023, as part of China's strategy to gradually open its financial markets [1]. - Since its launch, the trading volume of "Swap Connect" has been steadily increasing, with over 12,000 transactions and a total nominal principal amount of approximately 6.5 trillion RMB by the end of April 2025 [1]. Group 2: Future Developments - In May 2024, further optimizations to the "Swap Connect" mechanism will be implemented, including new contract types and features to facilitate risk management for foreign institutions [1]. - Planned enhancements include extending the contract duration for interest rate swaps to 30 years and introducing swaps based on the Loan Prime Rate (LPR) [1]. Group 3: Regulatory Support - The People's Bank of China, along with Hong Kong's financial regulatory bodies, will continue to guide the development of financial market infrastructure to support the ongoing opening of China's financial markets [2].