The People’s Bank of China said it will widen access for mainland institutions to buy offshore debt, detailing a package of measures that further opens the world’s second-largest bond market. Domestic brokers, mutual funds, wealth managers and insurers will for the first time be able to participate in Bond Connect, an investment channel that links investors on the mainland and in Hong Kong. Regulators are also discussing a plan to double the annual quota for the Southbound leg of Bond Connect to about CNY1 trillion ($139 billion), according to people familiar with the talks. In parallel, the central bank will raise the ceiling on bond-swap transactions and enlarge the quota under Swap Connect, giving onshore investors greater flexibility to hedge interest-rate risk. PBOC official Jiang added that the offshore renminbi repurchase programme will be expanded to cover U.S.-dollar, euro and Hong Kong-dollar securities, broadening funding options for market participants. The initiatives are part of Beijing’s broader effort to liberalise capital flows, bolster Hong Kong’s status as a financial hub and advance the international use of the yuan.