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Core Viewpoint - The article discusses the recent announcement by the Shanghai and Shenzhen Stock Exchanges, in collaboration with China Securities Depository and Clearing Corporation Limited, to support foreign institutional investors in conducting bond repurchase transactions in the exchange market [1][2]. Summary by Sections Announcement Details - On December 19, 2025, a notification was issued to facilitate foreign institutional investors' participation in bond repurchase business in the exchange market, aiming to deepen the openness of the bond market [4]. - The notification specifies that foreign institutional investors meeting the requirements of the related announcement and the exchange's bond trading regulations can engage in bond repurchase activities [4]. Types of Bond Repurchase Business - The bond repurchase business includes pledge-style agreement repurchase and pledge-style tri-party repurchase, as well as acting as a reverse repurchase party in the general pledge-style repurchase business [7][4]. Compliance and Procedures - Foreign institutional investors must comply with laws, regulations, and relevant business rules when participating in the bond repurchase business [5]. - They are required to follow specific procedures for account management, trading, registration, and settlement as outlined in the implementation guidelines for foreign institutional investors [8][5]. Risk Management and Monitoring - Settlement participants providing services for foreign institutional investors must adhere to relevant business rules and enhance risk management for bond repurchase settlements [10]. - The exchanges and China Clearing will monitor the trading, registration, and settlement activities of foreign institutional investors and their agents, taking self-regulatory measures against violations [11].