Xiang: As I mentioned just now, as an integral part of the PBC Headquarters, the PBC Shanghai Head Office will perform its functions under the guidance and authorization of the PBC Headquarters. 3/4  The Headquarters is mainly responsible for policy formulation and decision making, while the Shanghai Head Office will act as an operating center for implementing the policies.
An important feature of investor profile of the G-sec market is the dominance of domestic investors and limited foreign participation but this is an aspect of a policy framework rather than indicative of lack of interest by overseas investors.