Authored by: Minny Siu , Mu Mu (David) , Stanley Zhou and Andrew Fei

China’s National Association of Financial Market Institutional Investors (“NAFMII”) has just published a standard industry document for bond lending transactions[1] entitled Master Agreement for Bond Lending Transactions in China Interbank Bond Market (2022 version) (“NAFMII Master Bond Lending Agreement” or “NAFMII MBLA”). In January, the People’s Bank of China (“PBOC”) published the Administrative Rules on Interbank Bond Market Bond Lending Business (“Bond Lending Rules”).

Market participants are required to use the NAFMII Master Bond Lending Agreement for their onshore bond lending transactions under the Bond Lending Rules (which will take effect on 1 July 2022).

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