The People's Bank of China Supports Shanghai in the Free Use of RMB on An Early and Pilot Basis
The Opinions of the CPC Central Committee and State Council on Supporting Pudong New Area's High-Level Reform and Opening-up to Create a Leading Area for Socialist Modernization were released on the 15th, giving Pudong New Area a new major task of reform and opening-up. By 2035, Pudong will have a modernized economic system, a modernized urban area and modernized governance. The level of urban development and international competitiveness leap to the forefront of the world. By 2050, Pudong will be built into a city with strong attractiveness, creativity, competitiveness and influence in the world, and a global model of urban governance capacity and effectiveness of governance.，
The People's Bank of China said it will, as always, support the construction of Shanghai as an international financial center, support Shanghai to further improve the financial market system, product system, institutional system and financial infrastructure system, and strengthen the allocation function of global financial resources.
At the same time, it supports Shanghai in the free use of RMB on an early and pilot basis, further facilitating the entry and exit of corporate trade and investment funds in compliance with the requirements of the three principles of anti-money laundering, anti-terrorist financing, anti-tax evasion and exhibition, and exploring the free inflow and outflow of capital and free exchange in the new Lingang area.
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