China's bond market stood at about 86 trillion yuan (12.84 trillion dollars) by the end of 2018, with about 1.8 trillion yuan (260 billion dollars), or 2 percent, held by global investors, up 46 percent from a year earlier, according to the People's Bank of China.
Deutsche Bank's projections suggest that foreigners will own as much as a fifth of central government debt in five years, Bloomberg reported last week.
An expected growth in inflows will make the foreign investor community "an increasingly significant stakeholder" in China's financial system, Bloomberg said.
IMPORTANT MILESTONE
The inclusion is an "important milestone" in China's financial integration into the world economy, said Changyong Rhee, director of the IMF's Asia and Pacific Department, at a book forum held in Washington D.C. in March.
"This development follows the establishment in 2017 of the so-called Bond Connect, which allows foreigners to enter the Chinese bond market, as well as the authorities' recent commitments to further develop and open the market," Rhee said in his opening remarks at the event.
According to a government work report delivered in early March, China will implement reform and opening-up measures in the financial sectors and improve policies on opening the bond market.
Schipke noted that the inclusion of the renminbi (RMB) in the Special Drawing Rights (SDR) basket in November 2016 was associated with operational improvements in China's bond market, which has triggered a surge in global investor interest.
【国内英语资讯:Spotlight: Inclusion of Chinas bonds in global index to promote its financial integration】相关文章:
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