China to further facilitate RMB-denominated assets purchasing by overseas investors in H2

Photo taken on June 17, 2019 shows an electronic display with Shanghai-London Stock Connect information at London Stock Exchange in London, Britain.

Chinese financial regulators will further bolster facilitation to Renminbi (RMB)-denominated assets purchasing by oversaeas investors to deepen global financial cooperation and opening-up of higher level in the second half of 2023, reported Xinhua-run China Securities Journal on Tuesday.

The People's Bank of China, the Chinese central bank, and the State Administration of Foreign Exchange proposed such moves on their joint work meeting for the second half of this year together with others on prudent monetary policy, and foreign exchange sector to solidly propel high-quality economic development.

Under the goal to deepen global financial cooperation and opening-up of higher level, they will actively participate in global financial governance, advance global macro policycoordination and proactively press ahead with green finance international cooperation.

Meanwhile, the two financial regulators also vowed to steadily expand institutional opening-up in financial rules, mechanisms, management, and standards, simplify the procedures for overseas investors to invest in China, enrich the types of investable assets for them, and orderly promote internationalization of the Chinese currency - RMB. (Edited by Duan Jing, duanjing@xinhua.org)