I'm posting this as a bit of background while we await the CNY mid rate setting for the day
- China's bond connect link ith Hong Kong gives offshore investors another way to access the mainland's $10 trillion debt market
- Trading started yesterday (Monday)
Pan Gongsheng, deputy governor at the People's Bank of China, said at the link's opening ceremony in Hong Kong:
"More and more foreign investors need to purchase yuan-denominated assets"
"The bond connect meets global investors' rising demand."
Note ... The bond-trading connection is one-way only, foreigners can buy bonds in the mainland market, but Chinese investors can't buy binds in Hong Kong. not yet anyway. This differs to stock connect, which is two-way.