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China to further open local bond market

11-24-2011 10:57 BJT

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China is set to allow more foreign companies to invest in the domestic bond market. This is according to an official with the central bank on Wednesday, in line with the nation's pledge to liberalize its financial markets over time.

As China seeks to increase the use of the yuan in trade settlement to reduce reliance on the US dollar, overseas yuan holders are keen to plough money back into China’s bond market. So far, more than 100 foreign institutions have been given permission to invest in its stock and bond markets through the Qualified Foreign Institutional Investor, or QFII, scheme.

 

Editor:Zhang Rui |Source: CNTV.CN

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