PBoC tightens bond trading rules, relaxes renminbi controls

The PBoC has made fresh efforts to tighten restrictions on the domestic system and ease them for cross-border flows

China’s financial regulators have stepped up their efforts to curb excessive leverage in the financial system and remove controls on the Chinese currency as the new year begins.

In an announcement published on January 5 in conjunction with China’s other financial regulators, the People’s Bank of China (PBoC) says it has banned financial institutions from engaging in under-the-table transactions for bond trading, a method that previously avoided supervision.

The new rule also marks another co

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