国内英语资讯:Spotlight: Inclusion of Chinas bonds in global index to promote its financial integration_时事

国内英语资讯:Spotlight: Inclusion of Chinas bonds in global index to promote its financial integration

"More foreign central banks and sovereign wealth funds have bought RMB bonds as part of their reserves," he said, as holdings of RMB reserves by foreign central banks have gone up about 100 percent since 2016.

Citing the "co-movement" of the RMB with other currencies in the world, Schipke said the international monetary system might be moving away from the bipolar U.S. dollar and the euro blocs to a tripolar system. "That probably means that there will be additional demand for RMB bonds," he said.

China's bond market, the third largest in the world, is reaching a "tipping point" as regulation, market access, investor demand and benchmarks are firmly in place, Li Bing, head of Bloomberg China, said in a statement.

China's inclusion in the index has been a journey as financial reforms deepen and as its capital markets become more transparent to global investors, Li said.

FURTHER OPENING-UP

Bloomberg suggested China enhance market liquidity, improve its rating system, increase hedging tools and address operational concerns in order to promote the healthy development of China's bond market, Li said.

As foreign rating agencies start operating in the Chinese bond market, its rating system has to improve to meet global standards, Li said, adding that it is critical for the next evolution of China's corporate bond inclusion into the Bloomberg Barclays index.

Bloomberg found it "encouraging" to hear that a key task for the People's Bank of China this year is to provide sufficient financial hedging instruments to allow investors to effectively manage risks, Li said.