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China Interbank Bond Market Direct allows more foreign institutional investors to gain access to the world's third largest onshore bond market. Feeding the demand of global investors to tap the opportunities coming from RMB internationalisation, China has been opening up its onshore capital market over the past few years through a variety of foreign access schemes. One of the latest is the China Interbank Bond Market (CIBM) Direct, which allows a wider range of foreign institutional investors to gain access to the world's third largest onshore bond market for the first time. On 24 February 2016 the People's Bank of China (PBoC) issued a directive that relaxed the rules on participation. This opened the door for banks, securities companies, fund management companies, insurance, pensions, and other long-term investors to come into a market that had previously been restricted to the likes of central banks, sovereign wealth funds and few other approved financial institutions. "Hamburger" is a sculpture by Chinese artist Song Wei. Its adaptation is designed with approval of the artist IN A CHANGING WORLD,RMB ISN'T JUST ABOUT CHINA. CIBM Direct created much excitement as the participants in the scheme, known as Qualified Offshore Institutional Investors (QOII1), would gain access to the wholesale over-the-counter market estimated to be USD 7.3 trillion in size. A few points of ambiguity in the February announcement were cleared up by a second announcement on 27 May made simultaneously by PBoC and the State Administration of Foreign Exchange (SAFE). | 
