The People's Bank of China (PBOC), China's central bank, has recently outlined its key tasks in 2019, including continuously promoting the investment and financing cooperation under the Belt & Road Initiative .
The PBOC will deeply participate in the international economic and financial governance. The central bank will promote the opening up of the financial industry to the outside world, in accordance with the model of pre-entry national treatment plus negative list.
It will ensure that the announced measures can be implemented as soon as possible and continue to study and introduce new measures for opening-up.
In addition, the central bank will support the domestic enterprises' real and compliant outbound investment, so as to promote the high quality development of "going global".
In addition, the PBOC will steadily promote the internationalization of the RMB in 2019. It will further improve policies for the cross-border use of the RMB, optimize the monetary cooperation framework between the central banks and improve the service framework for the offshore RMB market liquidity.
Meanwhile, the PBOC will support the free trade zones and the free trade port to take the lead in the foreign exchange management reform on a trial basis, improve the "macro prudence + micro regulation" management framework for cross-border capital flows, and continuously improve the diversified use of foreign exchange reserves.
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