No limit for investment by foreign banks in Chinese interbank market

BEIJING - China won't limit investments by foreign central banks and similar institutions in the Chinese interbank foreign exchange (FX) and bond markets, official statements said Thursday.

But foreign banks and institutions must abide by Chinese laws and regulations and register their investments in the interbank FX market with the China Foreign Exchange Trade System and register their bond investments with the People's Bank of China (PBOC), the central bank said in statements posted on its official website.

For FX investments, foreign banks and institutions can choose to entrust the PBOC or interbank FX market members as the agent, become foreign members directly, or use multiple channels.

To invest in the bond market, foreign banks and institutions may also name the PBOC as the agent, choose an interbank bond market settlement agent or make direct investments.

The PBOC's statements also expounded on business processes for investments.