China's central bank on Monday issued draft guidelines aimed at simplifying rules and setting up a uniform set of regulations to help expedite inbound bond investment.

The People's Bank of China (PBOC) said it would relax repatriation rules and remove restrictions that bar foreign institutional investors from conducting spot foreign exchange transactions through China-based settlement agent.

The PBOC said on its website that it would seek public comment on the draft guidelines until Oct. 20.