PBOC & Three Departments Unveil Plan to Boost Shanghai's Intl Financial Center Status, Including SGE Product Delivery Internationalization

The People's Bank of China and three other departments: Explore the internationalization of specific product deliveries at the Shanghai Gold Exchange, establish overseas delivery warehouses.

On April 21, Jinshi Data reported that the People's Bank of China and three other departments jointly issued the "Action Plan for Further Enhancing Cross-border Financial Service Facilitation in the Shanghai International Financial Center." It mentioned enhancing the function of key financial platforms in allocating global resources. The plan includes high-level preparations for an international financial asset trading platform, aiming to create a significant functional platform for allocating global financial resources and facilitating international investors' deep participation in China's financial markets. It supports the Shanghai Gold Exchange and other institutions in conducting product authorization cooperation with overseas exchanges, expanding the application of RMB benchmark prices in international mainstream markets. The plan also explores the internationalization of specific product deliveries at the Shanghai Gold Exchange and the establishment of overseas delivery warehouses.