Sept. 26, 2025 — Front‑Page Headlines: Digital RMB International Operations Center and China Financial Moves

Digital RMB International Operations Center takes center stage in today’s roundup of China’s major securities papers and financial media.

Below you’ll find concise English translations, key data points, and actionable insights for investors, founders, techies, and marketers tracking China’s financial and fintech trends.

Quick snapshot

Key themes: Digital RMB internationalization, Swap Connect expansion, RMB bond-futures plans in Hong Kong, stronger foreign investor engagement, robust ChiNext performance, and policy pushes for service exports and digital consumption.

Data points to bookmark: ChiNext closed at 3,235.76; combined turnover across trading venues ¥2.39 trillion RMB (¥2.39万亿元; approx. $332 billion USD); on‑shore public mutual fund assets ¥36.25 trillion RMB (¥36.25万亿元; approx. $5.03 trillion USD); Hong Kong IPO primary proceeds ~HK$156.032 billion (≈ ¥143.6 billion RMB; approx. $20.0 billion USD).

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Shanghai Securities News (Shanghai Zhengquan Bao 上海证券报)

• Digital RMB International Operations Center officially begins operation
  
  The People’s Bank of China (Renmin Yinhang 人民银行; PBOC) held a promotion event in Shanghai on Sept. 24 to introduce three business platforms launched under the Digital RMB International Operations Center: a cross‑border digital payment platform, a Digital RMB blockchain services platform, and a digital‑asset platform.
  
  The launch marks the center’s formal start of operations and aims to support international use of digital RMB and related market development.
  
  Insight: This is a concrete institutional step toward RMB internationalization infrastructure.
  
  Why it matters: Cross‑border rails + blockchain services + digital‑asset plumbing create a toolkit for overseas settlement, corporate treasury flows, and payment‑rail experiments that institutional and fintech teams will be watching closely.
• “Swap Connect” operation mechanism further optimized to help investors manage interest‑rate risk
  
  PBOC Deputy Governor Zou Lan (Zou Lan 邹澜) said at a Hong Kong fixed‑income and currency forum that authorities will expand the pool of quoting market‑makers for the “Swap Connect” scheme and refine the market‑maker management mechanism.
  
  The China Foreign Exchange Trade System (CFETS 中国外汇交易中心; Zhongguo Waihui Jiaoyi Zhongxin) announced under PBOC guidance that the daily net trading quota will be raised from the current ¥20 billion RMB (¥20,000,000,000 RMB; approx. $2.78 billion USD) to ¥45 billion RMB (¥45,000,000,000 RMB; approx. $6.25 billion USD) to enhance market liquidity and better meet offshore investors’ needs to manage RMB interest‑rate exposure.
  
  (The new limit is scheduled to take effect Oct. 13, 2025.)
  
  Insight: Raising the daily net quota is a liquidity play.
  
  Why it matters: Offshore RMB interest‑rate hedging becomes more accessible, which can attract foreign fixed‑income allocations and boost onshore‑offshore market linkages.
• Shenzhen Stock Exchange organizes Korean roadshow; Korean investor confidence in China strengthens
  
  The Shenzhen Stock Exchange (Shenzhen Zhengquan Jiaoyisuo 深圳证券交易所) hosted an “Investing in China’s New Opportunities” roadshow in Seoul on Sept. 25.
  
  Executives from five Shenzhen‑listed companies — Keda Xunfei (Kēdà Xùnfēi 科大讯飞; iFLYTEK), Gelínmei (Gélínměi 格林美), Dongshan Precision (Dōngshān Jīngmì 东山精密), Shuanghuan Transmission (Shuānghuán Chuándòng 双环传动) and Guangxun Technology (Guāngxùn Kējì 光迅科技) — met more than 60 Korean investors to present their operations, investment logic and growth plans.
  
  Insight: Active roadshows signal willingness from Chinese exchanges to deepen foreign investor relations.
  
  Why it matters: Roadshows like this help repair trust, provide direct company narratives, and potentially speed cross‑border capital flow into growth segments.
• ChiNext index hits more than three‑year high; tech growth theme strengthens
  
  On Sept. 25 A‑shares rose with the ChiNext Index (创业板指) leading gains and setting over a three‑year high, up intraday by more than 2% and closing +1.58% at 3,235.76.
  
  Since April 8 the ChiNext has rallied nearly 80%.
  
  Shanghai Composite closed essentially flat at 3,853.30 (‑0.01%) while the Shenzhen Component closed +0.67% at 13,445.90.
  
  Combined turnover across Shanghai, Shenzhen and Beijing trading venues reached ¥2.39 trillion RMB (¥2.39万亿元; approx. $332 billion USD).
  
  Insight: The ChiNext run reflects renewed appetite for China’s technology and innovation names, and rising turnover supports the momentum.

Securities Times (Zhengquan Shibao 证券时报)

• China Securities Regulatory Commission and Monetary Authority of Singapore deepen capital‑market cooperation
  
  The ninth China‑Singapore securities and futures regulatory roundtable was held recently.
  
  CSRC Vice Chairman Li Ming (Li Ming 李明) and MAS Deputy Managing Director Ho Heng Xin (He Hengxin 何恒心) attended and delivered remarks.
  
  Both sides agreed to deepen pragmatic capital‑market cooperation and use roundtable mechanisms to strengthen exchanges and mutual learning, helping build a comprehensive high‑quality forward‑looking China‑Singapore partnership.
  
  Insight: Regulatory channels are being used to lower friction for cross‑border listings, products, and market practices.
• PBOC: accelerate work to list RMB government‑bond futures in Hong Kong
  
  PBOC Deputy Governor Zou Lan emphasized at the Hong Kong forum that China’s bond market has developed rapidly and its international influence has grown.
  
  He said there is substantial further opening‑up potential and that authorities will accelerate steps to enable RMB government‑bond futures to be listed in Hong Kong.
  
  Insight: Bond‑futures listings in Hong Kong would extend hedging tools to offshore players and further anchor RMB as a trade and investment currency.
• Digital RMB International Operations Center officially operational
  
  PBOC confirmed the center’s launch on Sept. 24 in Shanghai and the establishment of three major business platforms — cross‑border digital payments, blockchain services and digital assets — supporting the internationalization and financial‑market applications of digital RMB.
  
  PBOC Governor Pan Gongsheng (Pan Gongsheng 潘功胜) had earlier announced plans to set up this center during the 2025 Lujiazui Forum (Lùjiāzuǐ 陆家嘴).
  
  Insight: The center’s launch follows public planning and signals the PBOC’s appetite for experimental, institutional deployment of the digital currency.
• Fourth Global Digital Trade Expo opens in Hangzhou
  
  The expo runs Sept. 25–29 in Zhejiang’s Hangzhou under the theme “Seeing Innovation’s Future at the Digital Trade Expo,” covering 155,000 square meters with over 1,800 exhibitors.
  
  Insight: Large trade expos remain a practical channel to showcase B2B digital trade solutions, cross‑border e‑commerce, and export‑oriented partnerships.

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Securities Daily (Zhengquan Ribao 证券日报)

• Ministry of Commerce: support Chinese service‑export firms to keep boosting international competitiveness
  
  The Ministry of Commerce (商务部 Shāngwùbù) and eight other departments issued policy measures to promote service exports.
  
  From 2014 to 2024 China’s service exports rose from $219.1 billion to $445.9 billion (2014–2024), a compound annual growth rate of 7.3%.
  
  High‑tech and high‑value‑added service exports have become more competitive, though overall service‑sector outward orientation still has room to grow.
  
  Insight: Policy nudges and cross‑agency coordination could accelerate offshore sales of SaaS, digital services, and professional services firms in China.
• On‑shore public mutual fund assets exceed ¥36.25 trillion for first time
  
  Data from the Asset Management Association of China showed that as of end‑August 2025, mainland public mutual funds managed by 164 institutions had aggregate net assets of ¥36.25 trillion RMB (¥36.25万亿元; approx. $5.03 trillion USD), up ¥1.17 trillion (3.34%) from end‑July.
  
  Insight: Growing public fund assets point to expanding retail and institutional participation in China’s asset‑management sector.
• Hong Kong IPO fundraising likely ranks first globally for the first three quarters
  
  As of Sept. 25, 65 new stocks had listed in Hong Kong in 2025, raising about HK$156.032 billion in primary proceeds (1560.32亿港元; approx. HK$156.032 billion ≈ ¥143.6 billion RMB; approx. $20.0 billion USD), a year‑over‑year increase of 179.86%.
  
  Three more IPOs slated for Sept. 30 could add about HK$26.365 billion (≈ ¥24.3 billion RMB; ≈ $3.38 billion USD).
  
  The IPO pipeline in Hong Kong remains sizable: five firms have passed hearings and 242 firms are pending review.
  
  Insight: Hong Kong’s position as a major IPO venue is reinforced by strong year‑to‑date fundraising and a bulging pipeline.
• CFETS to optimize “Swap Connect” operation mechanism
  
  The China Foreign Exchange Trade System announced measures (under PBOC guidance) to boost “Swap Connect” market activity and better satisfy offshore investors’ demands for managing RMB interest‑rate risk.
  
  Key measures include a dynamic mechanism for adjusting quoting market‑makers, expanding the market‑maker pool, and improving the daily net‑limit dynamic assessment mechanism.
  
  The daily net quota will rise to ¥45 billion RMB (¥45,000,000,000 RMB; approx. $6.25 billion USD) starting Oct. 13, 2025.
  
  Insight: The operational tweaks aim to make the product more resilient and market‑friendly for foreign participants.

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CNR (China National Radio Online) (Yangguang Wang 央广网)

• Digital RMB International Operations Center officially operational
  
  CNR reporters confirmed PBOC’s Sept. 24 promotion event in Shanghai introducing the three new Digital RMB business platforms.
  
  PBOC Party Committee member and Deputy Governor Lu Lei (Lu Lei 陆磊) and Shanghai municipal leader Wu Wei (Wu Wei 吴伟) attended and spoke.
  
  Insight: Coverage by national radio reflects the event’s policy importance and its resonance across central and municipal leaders.
• Market Supervision: tighten CCC certification checks for power banks and lithium batteries
  
  At a press briefing on Sept. 25, the State Administration for Market Regulation said it will strengthen oversight of CCC (China Compulsory Certification) procedures for power banks and lithium batteries after ongoing public concerns, improving the certification system and quality‑safety supervision.
  
  Insight: Tighter quality scrutiny can influence product supply chains and compliance requirements for consumer electronics exporters.

First Financial (Yicai) (Diyi Caijing 第一财经)

• Ministry of Commerce issues two notices; counter‑measures on Mexico’s China‑related restrictions
  
  On Sept. 25 the Ministry of Commerce issued Notice No. 52 and No. 53 for 2025.
  
  Notice No. 52 launches anti‑dumping investigations into imported pecans originating from Mexico and the United States based on preliminary evidence of dumping and a surge in imports that harmed domestic industry pricing and caused material injury.
  
  Insight: Trade remedies remain an active policy tool where domestic industries report harm from import surges.
• Ministry of Commerce responds on China‑US soybean trade
  
  During a routine press briefing, the ministry’s spokesperson said US states’ provincial‑level trade ties are an important channel for bilateral economic exchange.
  
  The ministry urged the US to take concrete actions to remove unreasonable tariffs to facilitate expanded bilateral soybean trade.
  
  Insight: Official calls for tariff relief signal an appetite to normalize agricultural trade channels alongside larger diplomatic and industry negotiations.

Economic Information Daily (Jingji Cankao Bao 经济参考报)

• Eight departments issue guidance to unleash digital‑consumption potential
  
  To improve both hard infrastructure and a softer environment for digital consumption, the Ministry of Commerce together with the National Development and Reform Commission, the Ministry of Industry and Information Technology and other departments issued the “Guiding Opinions on Vigorously Developing Digital Consumption to Co‑create a Better Digital Life” to accelerate digital‑consumption development.
  
  Insight: Cross‑department guidance typically leads to coordinated pilot projects and preferential policies for local governments and platforms.
• Digital RMB International Operations Center starts with three business platforms
  
  The newspaper reiterated Shanghai’s Sept. 24 event introducing the cross‑border payments, blockchain services, and digital‑assets platforms under the new international operations center.
  
  Insight: Repetition across outlets confirms the center’s priority in policy narratives and market roadmaps.

Key takeaways

• Digital RMB International Operations Center in Shanghai has launched with three core platforms to promote international use and related market services.
• Authorities are accelerating financial‑market liberalization steps — notably expanding the Swap Connect mechanism and planning to facilitate RMB government‑bond futures issuance in Hong Kong.
• Domestic markets continue to show strong momentum (ChiNext’s multi‑year highs), while Hong Kong remains a major IPO fundraising hub in 2025.
• Policy support continues for export‑facing services and digital‑consumption growth, and regulators are tightening product safety certification for consumer electronics like power banks.

Actionable ideas for investors, founders, and marketers

• Investors: track Swap Connect quota changes (effective Oct. 13, 2025) and the progress on RMB bond‑futures listings in Hong Kong for new hedging products and allocation signals.
• Founders & fintech teams: explore integrations with the cross‑border digital‑payment and blockchain services platforms of the Digital RMB International Operations Center for pilot opportunities and payments innovation.
• Marketers & B2B platforms: position digital‑trade solutions and service‑exports offerings to align with policy pushes and global trade expos like the Global Digital Trade Expo in Hangzhou.

Linking opportunities

• Link to authoritative PBOC pages about digital RMB and the Digital RMB International Operations Center.
• Link to CFETS documentation on Swap Connect mechanics and quota updates.
• Link to exchange roadshow pages, ChiNext index data pages, and Asset Management Association of China statistics for deeper context.

References

• 9/26 Front‑Page Headlines Roundup — Eastmoney Research Center – Eastmoney
• Digital RMB International Operations Center officially operational — People’s Bank of China (PBOC) – People’s Bank of China (PBOC)
• CFETS announces optimization of “Swap Connect” operation mechanism — China Foreign Exchange Trade System – CFETS

Keep an eye on the Digital RMB International Operations Center as it shapes cross‑border rails and market infrastructure for the coming months.