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China expands bond trading China expands bond trading

The People's Bank of China, the central bank, is expanding trading in the nation's biggest debt market as it weans companies from shadow financing, adding to speculation the notes are set to extend gains. The PBOC will allow rural commercial lenders, rural cooperative banks and village lenders to open trading accounts in the interbank market, which accounts for more than 90 percent of all outstanding bonds in the country. Trust companies and the asset-management divisions of brokerages, mutual funds and insurers will also be authorized to trade on the bourse, according to a PBOC statement.

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