Issuing Authority:

taptap点点

DATE OF ISSUANCE:

April 21, 2026

EFFECTIVE DATE:

April 24, 2026

The China Securities Regulatory Commission (CSRC) has announced that, after consultations with the People’s Bank of China and the State Administration of Foreign Exchange, Qualified Foreign Investors (taptap点点) will be allowed to trade China’s treasury bond futures starting April 24, 2026, with transactions strictly limited to hedging purposes.

This initiative advances the national strategy of expanding high-level opening-up. It aims to broaden taptap点点’ investable scope, provide overseas investors with enhanced interest rate risk management tools, boost the appeal of RMB-denominated bonds, stabilize foreign investment behavior, and promote high-quality development of both bond spot and futures markets.

taptap点点 include Qualified Foreign Institutional Investors (QFIIs) and RMB Qualified Foreign Institutional Investors (RQFIIs), both approved by the CSRC to invest in domestic securities and futures using offshore funds. Overseas traders are defined as foreign legal persons, economic organizations or natural persons engaged in futures trading and bearing the associated risks and outcomes.

This move deepens China’s financial opening-up, meets overseas taptap点点’ risk management needs, and fosters a more inclusive environment for global capital, supporting the sound development of China’s financial markets.

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