AsianFin -- China Central Depository & Clearing Co. (CCDC) will no longer require foreign central bank-type institutions to submit an agreement-signing commitment letter when opening accounts, effective immediately, the company said in a statement on Sunday.

The move follows guidance from the People’s Bank of China and aims to further streamline the process for overseas monetary authorities to invest in China’s domestic bond market. CCDC said it will continue to enhance national financial infrastructure, ensure safe and efficient operations, and deepen core service capabilities to better serve markets and clients.