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Notice by the Shanghai Stock Exchange and China Securities Depository and Clearing Corporation Limited of Matters Concerning Supporting Foreign Institutional Investors in Conducting Bond Repurchase Business on the Shanghai Stock Exchange
[Effective]
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上海证券交易所、中国证券登记结算有限责任公司关于支持境外机构投资者开展上海证券交易所债券回购业务有关事项的通知
[现行有效]
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【法宝引证码】
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| Notice by the Shanghai Stock Exchange and China Securities Depository and Clearing Corporation Limited of Matters Concerning Supporting Foreign Institutional Investors in Conducting Bond Repurchase Business on the Shanghai Stock Exchange | | 上海证券交易所、中国证券登记结算有限责任公司关于支持境外机构投资者开展上海证券交易所债券回购业务有关事项的通知 |
| (No. 129 [2025] of the Shanghai Stock Exchange) | | （上证发〔2025〕129号） |
| All market participants: | | 各市场参与人： |
| For the purposes of deepening the opening up of the exchange bond market and supporting foreign institutional investors in conducting bond repurchase (“repo”) business in the exchange market, in accordance with the Announcement on Further Supporting Foreign Institutional Investors in Conducting Bond Repurchase Business in China's Bond Market (Announcement No. 21 [2025], PBC, CSRC and SAFE, hereinafter referred to as the “Announcement”) and relevant business rules of the Shanghai Stock Exchange (“SSE”) and China Securities Depository and Clearing Corporation Limited (“CSDC”), you are hereby notified of matters concerning the bond repo business on the SSE conducted by foreign institutional investors as follows: | | 为了深化交易所债券市场对外开放，支持境外机构投资者在交易所市场开展债券回购业务，根据《关于进一步支持境外机构投资者在中国债券市场开展债券回购业务的公告》（中国人民银行 中国证券监督管理委员会 国家外汇管理局公告〔2025〕第21号，以下简称《公告》）以及上海证券交易所（以下简称上交所）、中国证券登记结算有限责任公司（以下简称中国结算）相关业务规则，现就境外机构投资者开展上交所债券回购业务有关事项通知如下： |
| I. Foreign institutional investors meeting the requirements of the Announcement and the conditions on spot trading of bonds prescribed by the SSE may conduct bond repo business on the SSE. | | 一、符合《公告》要求和上交所债券现券交易规定条件的境外机构投资者，可以开展上交所债券回购业务。 |
| For the purposes of this Notice, “bond repo business” includes pledge-style agreement-based bond repo and pledge-style tripartite bond repo, and lending of funds as a reverse repo party in the general pledge-style bond repo business. The SSE and CSDC may, as needed for market development, adjust the scope of the bond repo business that foreign institutional investors may conduct. | | 本通知所称的债券回购业务，包括债券质押式协议回购和债券质押式三方回购，以及在债券通用质押式回购业务中作为逆回购方融出资金。上交所和中国结算可以根据市场发展需要，调整境外机构投资者可以开展的债券回购业务范围。 |
| II. Foreign institutional investors shall, in conducting bond repo business on the SSE, comply with the provisions of laws, administrative regulations, departmental rules, normative documents, and relevant business rules of the SSE and CSDC. | | 二、境外机构投资者开展上交所债券回购业务，应当遵守法律、行政法规、部门规章、规范性文件、上交所和中国结算相关业务规则的规定。 |
| ．．．．．． | | ．．．．．． |
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