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China further opens bond market to overseas investors

Xinhua | Updated: 2017-02-28 09:31

BEIJING - China opened its foreign exchange derivatives market to overseas non-central bank institutional investors on Monday.

The investors are allowed to trade forwards, forex swaps and options over the counter with banks, according to a circular released by the State Administration of Foreign Exchange (SAFE).

Access was granted in light of the increased presence of overseas institutional investors, which held bonds worth 870 billion yuan ($126.6 billion) by the end of 2016, up 83.4 billion yuan from 2015, SAFE said.

China will deepen the opening-up of its foreign exchange market by creating more trade tools and allowing more participants, SAFE said.

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