Pan pledges wider access to RMB markets and collateral use
People’s Bank of China (PBOC) Governor Pan Gongsheng pledged on October 15, 2026, to expand global access to China’s financial markets. He also committed to promoting broader acceptance and use of RMB bonds as eligible collateral.
Second-largest markets seek global capital
Pan addressed the Emerging Markets Conference alongside the Annual Meetings of the International Monetary Fund and the World Bank.
He said geopolitical risks, changes in global economic and financial conditions and artificial intelligence advances were increasing investor demand for diversification and technological innovation.
China’s steady growth and high-tech industries support RMB assets, he said.
Its equity and bond markets rank second globally, offering scale and liquidity for diversified allocations.
Over 1,200 overseas investors from nearly 80 countries and regions participate in China’s interbank bond market, representing around 30 percent of its investors.
Access channels extend offshore
Overseas investors can access Chinese markets through multiple channels and use repos and derivatives to manage liquidity and hedge risks, Pan said.
Sovereigns, international development institutions, financial institutions and companies can raise RMB through panda bonds and other channels.
Chinese bonds and equities feature in major international indices.
Hong Kong, the largest offshore RMB hub, is strengthening liquidity provision and broadening investment, financing and risk management products while expanding market depth and breadth.
Access beyond investment channels
The PBOC’s commitments extend beyond investor access to collateral use and risk management.
Pan said it would expand liquidity and hedging tools and improve investment and financing efficiency.
It will also strengthen cross-border financial infrastructure connectivity and support offshore RMB markets.