PBOC’s Shanghai Office Issues New Directive on Financial Development in Yangtze River Delta

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The People’s Bank of China (PBOC) has issued a new directive via its Shanghai office for spurring the development of the financial sector of the Yangtze River Delta.

The Shanghai office of PBOC recently led the issue of the “Several Measures Concerning Deepening the Implementation of Finance Support Policy Advance Trials in the Yangtze River Delta Ecosystem Green Integrated Development Demonstration Zone” (关于在长三角生态绿色一体化发展示范区深化落实金融支持政策推进先行先试的若干举措).

PBOC’s Shanghai office issued the Measures in collaboration with a total of 12 different authorities, including the Yangtze River Delta Ecosystem Green Integrated Development Demonstration Zone Commission (长三角生态绿色一体化发展示范区执委会).

The Measures consists of 16 concrete measures across eight separate areas, including:

  • Urbanised settlement services,
  • Cross-regional linked credit issuance,
  • Mobile payments integration,
  • Support for the establishment of integrated financial institutions,
  • The establishment of an integrated green financial services platform,
  • Driving the sharing of financial information.

The new Measures follow the issue of PBOC’s “Opinions Concerning Further Accelerating the Establishment of a Shanghai International Financial Centre and Finance Supporting the Integrated Development of the Yangtze River Delta” (关于进一步加快推进上海国际金融中心建设和金融支持长三角一体化发展的意见) in February.

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