Foreign institutional investors brought a net ~CNY6.6 billion of yuan bonds in July, after four consecutive months of net sales, the China Securities Journal reported, citing data released by the China Foreign Exchange Trade System. Foreign investors brought ~CNY518.8 billion of yuan bonds in July, selling ~CNY512.3 billion, as the China-U.S. interest spread rebounded, and the yuan remained generally stable, the newspaper said, citing analysts. Foreign investors will steadily increase their holdings of yuan bonds in the long-term, with demand supported by Chinese economic fundamentals, the analysts said. They currently hold a total of CNY3.51 trillion of bonds purchased in the interbank market, accounting for only ~3% of China’s bond market, the newspaper said.
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