China opens interbank bond market to foreign central banks

Move is among most significant towards renminbi liberalisation since QFII, says StanChart

People's Bank of China

The People's Bank of China (PBoC) has quietly scrapped limits on foreign central banks' access to China's interbank bond market, a development described by one market participant as one of the most significant moves towards renminbi internationalisation since the introduction of the qualified foreign institutional investor (QFII) programme in 2002.

Central banks, sovereign wealth funds (SWFs) and multilateral institutions will be able to access the market through private settlement agents, some

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