New rules allow easier access to interbank bond trading

China has issued new rules making it easier for foreign central banks, sovereign wealth funds and global financial organizations to access its interbank bond market, the latest step in the opening up of Asia's largest economy.

They will no longer need pre-approval to trade bonds, interest-rate swaps and conduct repurchase agreements, and can do so after filing a registration form, the People's Bank of China said in a statement posted on its website on Tuesday.

The change comes as China seeks to promote global use of the yuan to support its case for inclusion in the International Monetary Fund's basket of reserve currencies.