Core Viewpoint - The Shanghai Municipal Financial Committee and the People's Bank of China have issued measures to promote the high-quality development of offshore bonds in the Shanghai Free Trade Zone, aiming to enhance international competitiveness and attract offshore funding [1] Group 1: Policy Framework - The offshore bonds are designed to attract qualified issuers to raise offshore funds, adhering to the principle of "two ends outside" [1] - The issuance rules will follow international standards and practices, encouraging the use of Renminbi while also accommodating the foreign currency needs of issuers [1] Group 2: Operational Mechanism - The business will be conducted through registered custodial institutions in the Shanghai Free Trade Zone, targeting qualified investment entities for the issuance of securities and other transferable debt securities [1]