China welcomes foreign funds in bond market
CHINA welcomes investment from global central banks, financial institutions and sovereign wealth funds in the country’s bond market, an official from the central bank said yesterday.
The remarks came after the People’s Bank of China issued new rules to make it easier for international investors in the interbank bond market on July 14, which was estimated at around 35.3 trillion yuan (US$5.7 trillion) at the end of May.
After the new rules, foreign central banks, global financial institutions and sovereign wealth funds will only need to register with the central bank to trade bonds in the spot and forward markets, conduct interest rate swaps, and trade forward rate agreements. They will also be free to decide on the size of their investment.
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