On June 18th, Pan Gongsheng, governor of the People’s Bank of China, attended the opening ceremony of the 2025 Lujiazui Forum and announced eight policy measures that will be implemented in Shanghai.

From the perspective of the new policy, it covers the establishment of a transaction report database for the inter-bank market. Establish an international operation center for digital RMB; Establish a personal credit reporting agency; Carry out a comprehensive reform pilot of offshore trade financial services in the Lingang New Area of Shanghai; Develop free trade offshore bonds; Optimize and upgrade the functions of the free trade account; Take the lead in piloting the innovation of structural monetary policy tools in Shanghai; Work with the China Securities Regulatory Commission to study and promote the trading of RMB foreign exchange futures.

In the view of many experts interviewed, these policies will prompt Shanghai to accelerate its transformation from a traditional regional financial center to an international financial center with global influence, and form leading competitive advantages in areas such as the practice of RMB internationalization, cross-border capital allocation, and breakthroughs in fintech.

At the 2025 Lujiazui Forum today, Pan Gongsheng said that they will work with the China Securities Regulatory Commission to study and promote the trading of RMB foreign exchange futures. Promote the improvement of the product range in the foreign exchange market to facilitate financial institutions and foreign trade enterprises in better managing exchange rate risks.