To implement the requirements under the reform of “streamlining administration, delegating powers, improving regulation and services” initiated by the State Council, upgrade the macroprudential management framework, and improve the management of bond issuance overseas by domestic financial institutions, the People’s Bank of China (PBC) and the National Development and Reform Commission (NDRC) hereby decide to abolish the Interim Measures for the Administration of the Issuance of RMB Bonds in Hong Kong Special Administrative Region by Domestic Financial Institutions (Announcement No. 12 [2007] of the PBC and NDRC). Based on their respective mandates, the PBC, NDRC and other relevant authorities will administer the issuance of RMB bonds overseas by domestic financial institutions under the existing administrative framework.

The People’s Bank of China

National Development and Reform Commission

December 23, 2021