BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China (PBOC) on Wednesday began soliciting public opinion on a circular concerning support for overseas institutional investors to carry out bond repurchase business in the interbank bond market.

       Measures have been formulated to deepen the opening-up of China's bond market and facilitate the liquidity management of overseas institutional investors further, the PBOC said.

       These investors include overseas central banks and currency authorities, international financial organizations, sovereign wealth funds, financial institutions established in China, and medium and long-term institutional investors.

       A bond repurchase is a process in which a party sells a security to another party and simultaneously signs an agreement to repurchase the same security at a future date at a specified price.

       Overseas institutional investors that carry out bond repurchases are subject to Chinese laws and regulations, as well as related rules of the bond repurchase business in the interbank bond market, according to the PBOC circular.