PBOC Formulates Further Policy Initiatives to Promote RMB as an International Currency | White & Case LLP International Law Firm, Global Law Practice
PBOC Formulates Further Policy Initiatives to Promote RMB as an International Currency

PBOC Formulates Further Policy Initiatives to Promote RMB as an International Currency

On 2 December 2013, the People's Bank of China ("PBOC") issued its Opinions on Financially Supporting the Development of the China (Shanghai) Pilot Free Trade Zone (《中国人民银行关于金融支持中国(上海)自由贸易试验区建设的意见》) (the "Opinions").

The Opinions represent latest steps by PBOC to formalize the policy framework within the boundaries of which we expect applicable PRC government authorities to implement detailed rules to further promote the use of RMB in transactions carried out with Shanghai Free Trade Zone ("Zone") residents.

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