The People's Bank of China hosted a press conference to explain a joint policy package issued with seven other agencies to accelerate construction of the Western Land-Sea New Corridor, setting out 21 measures to expand financing support, improve cross-border settlement and foreign-exchange processes, and strengthen cross-regional coordination. The measures span six areas, including stronger organisational coordination, more diversified funding for corridor infrastructure, logistics, industry and trade, and reforms to streamline cross-border trade and investment settlement and widen renminbi use. The package also backs corridor-specific digital finance infrastructure and shared cross-border financial service platforms, deeper opening and financial cooperation with overseas markets, and enhanced cross-province and cross-border supervisory cooperation and risk controls. Supporting actions described at the briefing included plans to establish a Western Land-Sea New Corridor fund in Chongqing, encouragement of cross-regional joint credit and syndicated lending arrangements, continued expansion of railway transport document finance, and greater use of equity, bonds, asset-backed securities and REITs, with exchange-market activity across corridor provinces in the first 11 months covering IPO proceeds of nearly CNY 70 billion, refinancing of nearly CNY 250 billion, bond issuance of nearly CNY 700 billion and ABS issuance of over CNY 160 billion. Next steps focus on implementation: the People's Bank of China will coordinate with ministries and provincial authorities on policy and data sharing, project and firm lists, and a monitoring and evaluation mechanism that feeds into its credit policy guidance and foreign-exchange compliance assessments. Chongqing indicated it will publish supporting local implementation arrangements and plans for the Land-Sea Corridor Financial Service Centre to begin formal operation in early 2026.
Central Bank of the Republic of China 2025-12-25
People's Bank of China leads eight-agency plan with 21 measures to finance the Western Land-Sea New Corridor
The People's Bank of China and seven other agencies announced a policy package with 21 measures to enhance the Western Land-Sea New Corridor. Key initiatives include diversified funding for infrastructure, digital finance infrastructure, and cross-border financial service platforms. Implementation will involve coordination with ministries and local authorities, with Chongqing set to launch the Land-Sea Corridor Financial Service Centre in early 2026.