On December 26, Bank of China became the first Chinese institution to obtain the qualification to conduct offshore over-the-counter (OTC) bond business in Singapore, successfully completing the first offshore OTC bond transaction in Singapore. This marks the first time that overseas institutional investors can directly participate in the Chinese bond market through commercial bank counters, and is another important measure taken by Bank of China to support the high-level opening up of the capital market.
Once launched, this service will allow overseas institutional investors to open accounts through the Bank of China's Singapore branch in a "one-stop" manner and directly trade and invest in RMB bonds issued in mainland China from Singapore. Compared to traditional channels, the overseas over-the-counter bond business offers significant advantages such as easier access, lower transaction costs, and simplified procedures, thereby improving the efficiency of global investors' allocation of RMB assets.
Offshore over-the-counter (OTC) bonds are one of the six financial outcomes reached at the 21st meeting of the Joint Committee on Bilateral Cooperation between China and Singapore (JCBC) in 2025. As an important participant and promoter of the international use of the RMB, Bank of China has continuously enriched its offshore RMB product system, improved the market ecosystem, and actively promoted the implementation of cross-border OTC bond business scenarios for Chinese banks, providing solid support for promoting the international use of the RMB.
Bank of China will continue to leverage its global advantages and comprehensive characteristics to enrich cross-border financial application scenarios and make greater contributions to deepening the interconnection between domestic and foreign financial markets and supporting high-level opening up.
