Banking and Finance Laws

Financial institutions and enterprises nationwide are free to seek cross-border financing in renminbi or foreign currencies.

More domestic institutional investors are allowed to invest on the interbank bond market.

More domestic institutional investors are allowed to invest on the interbank bond market.

The PBOC has aligned the offshore loan requirements of PRC and foreign enterprises and introduced a new formula for calculating debt quotas, opening the gates for Chinese companies to get cheaper funding abroad. 中国人民银行统一了对中国和外国企业的海外贷款要求，并推出全新公式来计算债务限额，为中国公司提供机会来获取更廉价的海外融资。

China launches a nationwide VAT reform.

China rolls out VAT reform.

QFII investment limits relaxed.

QFII investment limits relaxed.

Negative list for market access put into trial in four regions.