RE: Ga Mantse Unveils Sacred Crown Awards.

Prosper Kay
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RE: Ga Mantse Unveils Sacred Crown Awards.

Reference is made to a story on your online portal on Tuesday June 9,2026 with the above caption.

In the said story, the paramount chief of Ga Marshie, Nii Tecko Tsuru is said to have launched a sacred crown award with the purpose of recognizing individuals, institutions and communities that are preserving and promoting African culture and also identify, honour and promote outstanding contributors in the area of integrity, impact, leadership, spirituality, wellness and services to humanity. The award category includes, Spirituality, African heritage and wellness

I must say, this award is unnecessary, adds to the existing multiplicities of awards with its continuous erosion of public trust, does not promote economic development and a complete waste of resources.

It is purely an individualistic venture that seeks to do self-promotion enterprise rather than any collective critical service delivery for the people of Ghana.

It is important to remind ourselves, there are already several awards that celebrate mastery, creativity, entrepreneurship, craftmanship, leadership, community engagement and cultural preservation across several sectors of our country including the Arts, Manufacturing, Business, Culture and Governance.

Awards such as the Gong Gong Awards by the Advertising Association of Ghana, TVET Excellence Awards by the commission of TVET, Ghana Manufacturing Awards, Ghana CEO awards and the AGI Ghana Industry and Quality Awards are few examples of awards that celebrate business excellence, craftmanship and mastery.

Again, awards like Otumfor/UNESCO Arts Awards, Sankofa Pan African awards, Joy Impact Makers Awards and the National Photo Competition by the Ministry of Tourism also celebrates individuals, NGOs and public institution engaged in tradition, heritage preservation, education and community engagement.

The three most prestigious awards in Ghana, the State Awards, Millenium Excellence Awards, and Ghana Club 100 Awards also honor leaders, individuals and institutions that exhibit extraordinary services, corporate excellence and transformative changes across the academia, culture, youth development, business, public governance and national development.

Clearly, there are already enough awards in the system that are doing much better than what this new award by the chief seeks to do. This new award is therefore unnecessary, a repetition of already existing awards, unprogressive, and will contribute nothing positive to the growth of this country.

Whiles the title of the award itself, SACRED CRWON AWARD is unghanaian and unafrican, the award also has no potential of bringing any unity, healing and transformation to the people of Ghana. The question is how will this award help to preserve our spirituality and wellness as a people? What scientific and transparent metric can be used to award spirituality and wellness?

It is purely an egoistic publicity event, an image enhancement enterprise for the chief as part of his grand agenda to elevate himself above the other chiefs in Greater Accra.

The proliferation of questionable awards in Ghana over the years has gradually created what I called a “vanity award” system and has consistently showcased the devaluation of very true, well intentioned and meritorious awards with its attendant loss of public confidence.

We therefore cannot continue the practice of the wanton introduction of unmeritorious awards by individuals and institutions that are disguised as national event but quietly seeks to promote individual parochial interest.

In fact, if there is any group of people that needs unity, identity, healing and transformation, it is the people of Ga Marshie, a community that Nii Tecko Tsuru remains the paramount chief. That community needs healing from filth, flooding and poverty.

Whiles I urge Ghanaians especially the Government, National Chief Imam and the media to boycott such unnecessary and self-promoting awards, I humbly want to appeal to the paramount chief of Ga marshie to abandon his unnecessary agenda of elevating himself above the other chiefs but rather, team up with his colleague chiefs in Accra and to begin to apply themselves diligently to the basic issues affecting his community, Ga Marshie in particular and the broader greater Accra for the general good of Ghana.

Kwaku Yeboah
Accra.
[email protected]

Zoomlion, NADMO, Dredge Masters Target Critical Flood-Prone Accra Areas

EDALL Chronicles
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Zoomlion, NADMO, Dredge Masters Target Critical Flood-Prone Accra Areas

Zoomlion Ghana Limited, in partnership with the National Disaster Management Organisation (NADMO), Dredge Masters Gh. Ltd and other partners on Wednesday, June 17, intensified its flood prevention and drainage desilting exercise across several vulnerable communities in the Greater Accra Region as the country enters the peak of the rainy season.

The large-scale intervention, which forms part of a broader disaster preparedness strategy, is aimed at reducing the impact of seasonal flooding that continues to threaten lives, property and economic activity across the capital.
The exercise has brought together sanitation personnel, engineers, heavy equipment operators, local authorities, security agencies and community members in a coordinated effort to improve stormwater flow and strengthen flood resilience.
Early in the morning teams were deployed to critical flood hotspots including Teshie-Nungua, the Osu Castle beachfront area, Achimota and Abokobi for debris collection, Desilting and dredging.
The operation focused on removing accumulated silt, plastic waste, and other debris that have over the years obstructed drains and waterways, contributing to flash floods during heavy rains.
At the Blekese West Electoral Area in Nungua within the Krowor Municipal Assembly, residents joined sanitation workers in clearing major drainage channels. Speaking during the exercise, the Assembly Member for Blekese West, Hon. Alhassan Mohamadu Cabilla, commended Zoomlion Ghana Limited for responding swiftly to the community’s appeal for support.
According to him, although residents regularly undertake communal labour to keep the area clean, the volume of silt deposited in the drains required specialised machinery beyond what could be handled through manual efforts. He described the intervention as timely and critical for a community that frequently experiences flooding during periods of intense rainfall.
Hon. Cabilla disclosed that the electoral area has institutionalised monthly communal clean-up exercises held on the first Saturday of every month. He assured residents that community leaders would continue to monitor the drains and ensure they remain free of obstruction. He also appealed to the public to desist from dumping refuse into gutters, warning that such practices undermine costly desilting efforts and worsen flooding.
Meanwhile, in the Ga East Municipality, NADMO and Dredge Masters, a subsidiary of the Jospong Group of Companies, undertook what officials described as a landmark mechanical dredging exercise on the Dakobi River. The river, which plays a key role in managing stormwater within the Pantang-Madina-Abokobi enclave, underwent extensive dredging to improve water flow and enhance its capacity to contain heavy runoff during major rain events.
The Ga East Municipal Director of NADMO, Mr. Edem Agbenyfie, praised the technical expertise and heavy-duty equipment deployed by the Dredge Masters team. He described the intervention as a significant contribution toward protecting lives and property, noting that communities along the river corridor have for years battled recurring flooding whenever rainfall intensifies.
Mr. Agbenyfie also issued a strong warning to developers and landowners who continue to build within designated waterways despite repeated notices from authorities. He stressed that the assembly would not hesitate to enforce planning regulations, including the demolition of unauthorised structures that obstruct the natural flow of water. While acknowledging the social and economic implications of such actions, he maintained that public safety must remain paramount.
The ongoing operations underscore a growing recognition among disaster management stakeholders that engineering solutions alone cannot eliminate flooding. Officials say sustained public education, responsible waste disposal, routine maintenance of drainage infrastructure, and strict enforcement of environmental and planning regulations will be essential to achieving lasting results.
The collaborative initiative involving Zoomlion Ghana Limited, NADMO, the Ghana Police Service, Metropolitan, Municipal and District Assemblies (MMDAs) and community groups is expected to intensify in the coming weeks. With forecasts pointing to continued rainfall across southern Ghana, authorities remain committed to deploying personnel and equipment to safeguard communities, protect critical infrastructure, and minimise the risk of flood-related disasters throughout the Greater Accra.

The Sale Is Lost In The Silence: Why Follow-up Discipline Is The Most Underrated Driver of Revenue

News Desk
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The Sale Is Lost In The Silence: Why Follow-up Discipline Is The Most Underrated Driver of Revenue

In boardrooms across Accra, Lagos, and Nairobi, executives spend extraordinary energy debating marketing budgets, branding refreshes, and digital reach. Yet the most expensive losses on the ledger sales rarely come from rejected offers.

They come from something far quieter — the moment a customer goes silent after a promising conversation, and nobody returns with the right one.

This is the hidden cost of weak follow-up. After years of consulting across banking, telecoms and professional services, my conclusion is consistent: most businesses are not losing sales because the market is hard. They are losing sales because their follow-up discipline is broken.

The Misread Customer

A customer’s silence is too quickly interpreted as rejection. In reality, most prospects go quiet because they are comparing options, consulting decision-makers, balancing competing priorities, or building internal confidence. The professional response is not to retreat. It is to return with a structured value.

“A customer’s silence is rarely rejection. It is usually an invitation to return with more value, more clarity and more confidence.”

When sales teams treat follow-up as a disturbance, they forfeit revenue already partially earned in the first conversation.

Discipline, Not Hustle

Follow-up is not chasing. Chasing irritates customers; discipline persuades them. Repeated calls without new information, recycled emails without fresh context, and pressure language disguised as urgency erased the goodwill the first meeting created.

A disciplined follow-up does one of five things: it clarifies value, answers an unresolved concern, provides new proof, reminds the customer of a benefit, or confirms a clear next step. Anything else is noise.

“Follow-up is not chasing. It is a structured value, repeated with discipline.”

The Ghanaian and African Business Context

In Ghana and across much of Africa, business is fundamentally relational. Decisions move through trust networks, multiple stakeholders and slower internal alignment. Personal credibility often matters as much as the price of the proposal.

The imported “quick close” rarely lands here. What lands is a consistent, respectful presence — the salesperson who circles back with insight rather than impatience, and who understands that a delayed yes is still a yes worth earning.

Yet this is precisely where many African businesses fail. Leads enter the funnel and quietly evaporate. CRM systems exist, but are rarely used. Proposals are sent without ownership of the next step. Meetings happen, but no one documents the customer’s concerns. The pipeline slowly becomes a graveyard of half-served customers — each one a quiet loss of revenue and reputation.

A Framework: The Five Disciplines of Follow-Up

In my engagements, I challenge leadership teams to embed five non-negotiable disciplines:

  1. Record every conversation — what was discussed, what was promised and what the customer needs next.
  2. Schedule every next action — no follow-up is real until it sits in a calendar, owned by a named person.
  3. Lead with value, not pressure — every contact must teach, prove or solve something for the customer.
  4. Track movement, not just activity — measure how prospects advance through stages, not how many calls were logged.
  5. Make follow-up a leadership conversation — the executive question must shift from “How much did we sell?” to “Who are we following up with, what is delaying them, and what must happen next?”

The Corporate Application

For serious organisations, this is a strategy issue, not a sales team issue. Marketing brings the lead in. Operations deliver experience. But it is follow-up discipline owed by leadership, embedded in culture and supported by systems — that determine whether revenue is converted or quietly lost.

“The business that follows up better will often outsell the business that merely advertises louder.”

A Closing Call to Leaders

Revenue growth is not won by louder campaigns. It is won by sharper systems, stronger conversations and leaders who treat every enquiry as a revenue opportunity worth protecting.

At MGA Consulting Ghana Limited, we partner with organisations to redesign sales culture, install practical follow-up systems, train sales teams in disciplined customer engagement and equip leaders to manage the revenue conversation with rigour.

If your business is investing heavily in marketing but losing sales after the pitch, the gap is rarely the offer. It is discipline.

The customer did not always reject you. Sometimes, you simply fail to return with the right conversation.

By Michael Abbiw, The Growth Desk with Michael Abbiw

MTN Refurbishes Hospital Beds at Maamobi Hospital, Supports Patients Under Y’ello Care

Isaac Kofi Dzokpo
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MTN Refurbishes Hospital Beds at Maamobi Hospital, Supports Patients Under Y’ello Care

MTN Ghana has intensified its support for healthcare delivery in the country through the refurbishment of hospital beds and furniture at Maamobi General Hospital as part of its annual 21 Days of Y’ello Care initiative, while partnering with DOSH Health Insurance to support patients unable to pay their medical bills. 

Speaking at Maamobi General Hospital, MTN Ghana Chief Executive Officer, Stephen Blewett, described the 21 Days of Y’ello Care programme as one of the company’s most important annual initiatives, bringing together staff members to volunteer their time and skills in support of communities across the country.

According to him, the programme, which runs throughout June, goes beyond financial donations by encouraging employees to actively participate in projects that directly impact people’s lives.

Speaking At Maamobi General Hospital Mtn Ghana Chief Executive Officer Stephen Blewett

“MTN has every year one of our highlights of the year, which is the 21 Days of Y’ello Care, and that’s a very key time for us. We start on the first of June and all our staff participate in giving back to the people of Ghana. It’s not just about money as MTN; it’s about being physically involved,” he said.

Mr. Blewett explained that volunteers are refurbishing hospital beds and furniture to improve conditions in healthcare facilities nationwide. He revealed that 1,700 hospital beds have already been refurbished and made ready for use, with a target of restoring 3,000 beds.

“You see behind me and myself today as well, we are refurbishing beds. We’ve done 1,700 beds that have been refurbished, ready for hospitals, including furniture and other fittings in hospital wings, wooden furniture and reupholstering works. People are laughing because it’s a fun event and people enjoy giving,” he stated.

Ceo And Madam Wiafe

“We are still going to do 3,000 beds that are going to be completely refurbished, hospital beds resprayed, all the mechanics fixed and put back into hospitals so that people recuperating from surgery or whatever illness they may have can have a quality bed to be in. That’s what we’re doing today, and not just the beds, but the furniture as well.”

The MTN Ghana CEO also highlighted the company’s partnership with DOSH Health Insurance, describing it as an important intervention to support vulnerable patients.

“We’ve also partnered with DOSH and they are helping and assisting people who don’t have the funds to pay and leave the hospital by paying those funds for them and allowing them to leave, which is a great initiative from them. This is really a very big part for us in giving back to the people of Ghana,” he said.

Mtn Staff Jpg

Mr. Blewett used the occasion to call on other corporate institutions to support Ghana’s healthcare sector, arguing that collective action could significantly improve healthcare infrastructure and services.”As responsible citizens of our country, each big corporate should go out and do this. I would call them out and say, ‘Hey, what can you do?’ Because if every major corporate in Ghana did this, imagine what our healthcare system would look like as we continue to contribute to it.”

He noted that supporting healthcare facilities is particularly important because they serve vulnerable people and often struggle with maintenance demands beyond their core responsibility of providing medical care.

“When you get into healthcare, you’re giving to vulnerable people. Hospitals primarily function to provide healthcare, so other things are often difficult for them to manage. We are supporting some of that maintenance because when you try to catch up on such a large maintenance gap, it becomes difficult.”

“To your point, if all of us as corporates got involved and got things up to standard, it would be easier to maintain.

But when you ask a hospital whose primary job is to help and heal people to also do all the maintenance, it becomes quite difficult. If you’re doing continuous maintenance, it’s easier, so we need to help them get there so that continuous maintenance can be carried on.” Looking ahead, Mr. Blewett said MTN’s support for healthcare would increasingly focus on technology-driven solutions.

“It’s being done across the country, not just in Accra, and for us as MTN, culture is really front and centre. Beyond physical health, we are also looking at how we bring digital health and how we bring AI into healthcare. These are the areas that we will be focusing on.”

Head Of Sales And Marketing At Dosh Health Insurance Belinda Amoo
Head Of Sales And Marketing At Dosh Health Insurance Belinda Amoo

The Head of Sales and Marketing at DOSH Health Insurance, Belinda Amoo, said the company joined the initiative because of its commitment to improving healthcare access for Ghanaians.

“We decided to partner with MTN on its 21 Days of Y’ello Care initiative because they called on us and we are already in the health space, providing medical insurance for Ghanaians,” she said.

Ms. Amoo disclosed that DOSH has committed GH¢1 million towards supporting patients at several health facilities across the country.

“We decided to provide a cover of GH¢1 million for all the facilities that they will be going to. Currently, we are at Maamobi General Hospital and we have about eight other facilities that will be visited.”

She explained that the support package is intended for patients who have been discharged but are unable to settle their medical bills.

“This GH¢1 million is going to pay the medical bills of people who are on admission and have been discharged but are unable to pay. It is also going to give them cover for subsequent visits and treatments. So it is an annual benefit; it’s not just a one-time payment of medical bills. It gives them health cover for the whole year, which they can use upon subsequent visits.”

According to her, about 100 beneficiaries nationwide are expected to benefit from the intervention, with the total insurance cover amounting to GH¢1 million.

Mtn Staff Jpg

The nationwide campaign, running from June 1 to June 21, 2026, is being implemented under the theme, “Expanding Equitable Health for Every Community.”

This year’s initiative forms part of MTN Ghana’s 30th anniversary celebrations and underscores the company’s commitment to creating shared value through community-focused interventions.

The 21 Days of Y’ello Care initiative remains MTN’s flagship employee volunteerism programme, encouraging staff members to contribute directly to social development projects across Ghana.

 

Tema Police Intercept Suspected Narcotics Haul, Arrest Two

News Desk
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Tema Police Intercept Suspected Narcotics Haul, Arrest Two

Source: Augustin Mawutor Egbenya 

The Tema Regional Police Command has intercepted a truck carrying a large quantity of plant material suspected to be narcotic drugs and arrested two suspects in connection with the operation.

The interception took place in the early hours of Sunday, June 14, 2026, at Afienya in the Greater Accra Region. Acting on intelligence received from the Volta Regional Police Command, which had been tracking the vehicle from Juapong towards Tema, police officers successfully stopped a green HOWO tipper truck with registration number GN 2287-24.

A search of the vehicle uncovered 56 maxi sacks, each containing approximately 80 wrapped parcels of plant material suspected to be Indian hemp. The driver, identified as 26-year-old Solomon Akuaku, and his mate, 31-year-old James Tetteh, were arrested at the scene.

Preliminary investigations indicate that the owner of the consignment, known only by the name “Red,” was travelling in a separate vehicle ahead of the truck and allegedly directing its movement. Police believe he played a key role in the transportation of the suspected narcotics.

The two suspects remain in police custody and are assisting with investigations, while the seized substances have been retained as evidence. Efforts are underway to identify, locate and arrest the alleged owner of the consignment.

Drug trafficking remains a major concern for law enforcement agencies in Ghana, as authorities continue to intensify efforts to curb the movement and distribution of illegal substances across the country. The Ghana Police Service has reaffirmed its commitment to combating drug-related crimes and has urged members of the public to support security agencies by providing credible information that can help prevent criminal activities and bring offenders to justice.

MP Vows Action Against Galamsey, Supports Chirano School

Acquah Anthony
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MP Vows Action Against Galamsey, Supports Chirano School

The Member of Parliament for Bibiani Anhwiaso Bekwai in the Western North Region, Hon. Bright Asamoah Brefo, has reiterated his determination to tackle illegal mining activities in his constituency, stressing the environmental damage they cause. In an interview, he emphasized government’s commitment to completing abandoned projects in the municipality, including the Sefwi Chirano Community Day School (CHIRASEC), and providing resources for its cadet corps. He revealed that he has successfully lobbied GETFUND to begin construction of a teachers’ bungalow and a student hostel to support education in the area.

The Omanhene of Chirano, Nana Okogyeman Kwaku Gyamprah III, who also serves on the Metro Mass Board, promised to sponsor outstanding students from Chirano Community Day School into tertiary institutions. He dismissed allegations linking him to galamsey, insisting he has never been involved in illegal mining and vowing to take legal action against those spreading such claims. He called on government and the MP to continue supporting the school with infrastructure.

Headmaster Mr. Baba Malbeng praised the MP, traditional leaders, and government for their support, urging teachers and parents to mentor students and instill discipline. He appealed for further investment in facilities such as staff accommodation, hostels, a headmaster’s bungalow, office furniture, and vehicles to strengthen the school’s development.

Government Begins 24-Hour Economy Market Project In Kwaebibirem

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Government Begins 24-Hour Economy Market Project In Kwaebibirem

Source: Bretuoba Nana Kwame Marfo

The Government of Ghana has commenced construction of an ultra-modern 24-Hour Economy Market in the Kwaebibirem Municipal as part of its flagship policy to stimulate growth, enhance trade, and create sustainable employment. A sod-cutting ceremony was held on Tuesday, June 16, 2026, at the Obidombie Block Factory Area in Akyem Kade, bringing together clergy, traditional leaders, local government officials, traders, and residents.

The event was led by Municipal Chief Executive Honourable Emmanuel Kofi Nti, alongside the Chief of Akyem Kade, Osabarima Asare Twe II, the Chief of Akyem Adankrono, Osabarima Sarpong Kumakuma II, the Queen Mother of Akyem Kade, Obaahemaa Obiyaa Gyadum II, and members of the Traditional Council. Assembly Members, Unit Committee Members, staff of the Municipal Assembly, and market women also participated.

Speakers emphasized the importance of the project in promoting round-the-clock commercial activity, improving local economic development, and providing a modern trading environment. Kwaebibirem is among the districts selected to benefit from the nationwide initiative to establish modern market facilities under the 24-Hour Economy Policy.

Community members expressed optimism that the new market will boost business, increase revenue, and create jobs. Honourable Emmanuel Kofi Nti assured residents that his office will work closely with consultants and contractors to deliver the project on schedule and to the highest standard, reaffirming government’s commitment to bringing more development to the people.

GPHA Holds Sensitisation Forum on Environmental Impact Assessment Permit for Keta Port Project

EDALL Chronicles
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GPHA Holds Sensitisation Forum on Environmental Impact Assessment Permit for Keta Port Project

The Ghana Ports and Harbours Authority (GPHA) will on Thursday, 18th June 2026, convene a sensitisation forum in the Keta Municipality to engage stakeholders on the Environmental Impact Assessment (EIA) of the Port of Keta project.

This forum follows the recent approval granted by the Environmental Protection Agency (EPA) for the EIA of the project, marking a pivotal step in the development of Ghana’s third commercial port. The engagement aims to update stakeholders on the next phase of the project and outline opportunities for investment and collaboration.

The Director General of GPHA, Major General Paul Seidu Tanye Kulono, recently received the final EIA report and permit from the Coastal and Reclamation Engineering Services Ghana Limited, the consulting firm responsible for the assessment which was presented by Nii Tackie Oblie.

Major General Tanye Kulono described the approval as a “significant milestone” in GPHA’s strategic vision to expand Ghana’s maritime infrastructure and strengthen its role as a regional trade hub.

Commending the consultants and engineering teams, he highlighted their technical expertise and diligence in delivering a comprehensive EIA process that meets all regulatory standards.

He emphasized that the Keta Port project is integral to GPHA’s broader agenda of modernizing port facilities, enhancing operational efficiency and positioning Ghana as a competitive gateway for international trade.

The proposed Keta Port, once developed, is expected to complement existing facilities at Tema and Takoradi, while driving economic growth through increased trade volumes, investment opportunities and job creation.

The project will also serve as a catalyst for regional development, offering new prospects for businesses and communities across the Volta Region and beyond.

CalBank Calls July Meeting to Revise Its Constitution

Roger A. Agana
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CalBank Calls July Meeting to Revise Its Constitution

CalBank PLC will hold a virtual Extraordinary General Meeting (EGM) on July 14, 2026, seeking shareholder approval to amend its constitution and set director pay for the year.

The bank is putting two matters to shareholders. The first seeks approval through special resolutions to amend CalBank’s Amended Constitution, changes that will take effect only after the Bank of Ghana grants its approval. Ghanaian company law requires special resolutions to clear a 75 percent vote threshold, a higher bar than the simple majority needed for ordinary business decisions.

The full text of the proposed constitutional changes is available at https://calbankegm.com and https://calbank.net/investor-relations. The notice does not specify the nature of the revisions.

Shareholders will also vote through an ordinary resolution to approve remuneration for non executive directors for the financial year ending December 31, 2026.

The meeting will take place entirely online with no physical venue. Each shareholder will receive a unique access token by email or SMS from June 29, 2026 to log into the EGM platform. Shareholders who do not receive a token by July 6, 2026 are asked to contact the Registrar, Central Securities Depository (GH) Limited, by telephone at 0302 906576 or by email at [email protected].

Proxy forms, available for download at https://calbankegm.com, must reach the Depository no later than 10:00 a.m. on July 10, 2026. Forms may be submitted by email to [email protected], delivered by hand to the fourth floor of Cedi House in Accra, or posted to PMB CT 465, Cantonments, Accra.

Shareholders who do not file proxy forms in advance may still vote electronically during the meeting using their token.

The notice, dated June 15, 2026, was issued by Company Secretary Veritas Advisors Ltd on behalf of the board.

China Builds Yuan Safety Net for Foreign Central Banks

Roger A. Agana
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China Builds Yuan Safety Net for Foreign Central Banks

China opened a yuan funding tool to foreign central banks Wednesday in Shanghai, pressing its campaign to reduce the US dollar’s hold on global finance.

The People’s Bank of China (PBOC) introduced the FIMA RMB Repo, a facility that lets overseas central banks and sovereign wealth funds draw yuan by pledging high-quality Chinese bonds as collateral. The design echoes the Federal Reserve’s own FIMA repo, a mechanism that gives foreign central banks access to dollar liquidity, suggesting Beijing is building comparable yuan infrastructure for the global system.

PBOC Governor Pan Gongsheng told the annual Lujiazui Forum in Shanghai that “foreign investors including central banks are actively entering China’s bond market,” adding that their need to manage yuan liquidity was rising and providing the rationale for the new facility.

China also authorized six state owned banks, including Bank of China and China Construction Bank, to handle offshore yuan transactions in Shanghai’s free trade zone, extending the city’s position as a yuan settlement hub.

The forum measures came a day after the PBOC’s digital yuan centre signed agreements with 26 Shanghai financial institutions to widen use of the digital currency.

China’s foreign exchange regulator announced fresh quotas under the Qualified Domestic Institutional Investor (QDII) programme, letting approved Chinese investors deploy more funds abroad through licensed channels. The move followed a late May crackdown on what authorities described as illegal cross border capital flows.

The financial opening arrives as China’s domestic economy sends contradictory signals. Official data showed retail sales fell in May for the first time in more than three years and investment softened, even as industrial output grew.

Ding Xiangqun, newly appointed head of the National Financial Regulatory Administration (NFRA), told the forum that regulators would direct capital toward emerging industries while cracking down on illegal financial activity and disorderly market competition.

China’s securities regulator, Wu Qing, said the stock market would actively pursue gains from the technology sector while tightening action against speculation and market manipulation.

Chinese shares showed little reaction Wednesday and the yuan traded broadly flat after the announcements.

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