Recently, the People's Bank of China, the China Securities Regulatory Commission and the State Administration of Foreign Exchange jointly issued an announcement to further support overseas institutional investors in carrying out bond repurchase business. BOC Macau completed a number of preparatory work in a short time, taking the lead in landing the only Bond Connect "North Link" cross-border RMB bond reverse repurchase business in the global market. Northbound Connect "refers to residents of Hong Kong and Macao opening investment accounts with mainland banks in the Guangdong Hong Kong Macao Greater Bay Area to purchase qualified wealth management products sold by mainland banks. This announcement allows overseas qualified investors to handle cross-border RMB bond repurchase business with domestic institutions through the traditional Bond Connect, which not only meets the RMB liquidity needs of overseas investors, but also enlivens the onshore RMB bond assets, further opens the two-way channels of domestic and overseas RMB, and gradually improves the attractiveness of RMB bonds in the international market. The relevant person in charge of the Bank of Macau stated that the innovation of this cross-border RMB repurchase is an important manifestation of the Bank of Macau fully leveraging its role as a RMB clearing bank, innovatively expanding cross-border RMB application scenarios, promoting RMB internationalization, helping to build a two-way channel between the onshore bond market and global capital, and promoting the moderate and diversified development of the Macau economy through practical actions. It is reported that the successful implementation of this business is the second time that BOC Macao has played a leading role in the construction of the RMB bond market, and helped Macao to build a high-level and modern financial system through the continuous innovation of financial products and the gradual opening of two-way channels, following the first issuance of Hong Kong and Macao "connectivity" themed debt instruments this year and the first launch of offshore RMB bond repurchases with Bond Connect "Northbound" bonds as collateral. The relevant person in charge of Bank of China Macau stated that in the future, they will continue to implement the national and head office development strategies, rely on the group's internationalization and comprehensive advantages, and improve the cross-border RMB clearing network, continuously help to consolidate the RMB internationalization infrastructure, build a more complete local bond market, and gradually enhance Macau's influence in the international financial market. (New Society)