Pan Gongsheng: Pilot program for facilitating foreign institutions' RMB purchase and sale business

The Governor of the People's Bank of China, Pan Gongsheng, stated at the 2026 Financial Street Forum Annual Meeting that it will pilot further facilitation for foreign financial institutions to conduct RMB purchase and sale operations in the domestic foreign exchange market.

The People's Bank plans to allow 8 domestic and foreign RMB offshore clearing banks to conduct proprietary trading in the domestic interbank foreign exchange market, promoting the integrated development of onshore and offshore markets.