In a move to enhance the investment environment in China's bond market, three financial institutions announced measures on Aug 11 to simplify market access for overseas central banks.

The National Interbank Funding Center said that it has streamlined the materials required for account opening and system access, removing the compliance commitment letter under both the Bond Connect and settlement agency models.

The Shanghai Clearing House announced it will no longer require overseas central banks to submit the Agreement Execution Statement and Commitment (Applicable to Indirect Settlement Member) when opening an account.

The China Central Depository & Clearing Co Ltd also said that it will eliminate the requirement for agreement commitment documents.

Industry insiders say these measures will simplify investment processes and support the high-level opening-up of China's bond market.

Source: Xinhua News Agency