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MNI BRIEF: China Allows Foreign Access To Interest Rate Market

MNI (Singapore)
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China will allow international investors to access its interest-rate derivatives market through Hong Kong, following the announcement of the so-called "Swap Connect" by the People's Bank of China on Monday.

Such a scheme, based on interconnectivity infrastructure similar to Bond Connect, is beneficial to meeting the interest rate risk management needs of investors, said PBOC Deputy Governor Pan Gongsheng in a speech to celebrate the fifth anniversary of Bond Connect. The scheme will start in six months, pending regulatory approvals and market readiness, according to a statement on the PBOC website.

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China will allow international investors to access its interest-rate derivatives market through Hong Kong, following the announcement of the so-called "Swap Connect" by the People's Bank of China on Monday.

Such a scheme, based on interconnectivity infrastructure similar to Bond Connect, is beneficial to meeting the interest rate risk management needs of investors, said PBOC Deputy Governor Pan Gongsheng in a speech to celebrate the fifth anniversary of Bond Connect. The scheme will start in six months, pending regulatory approvals and market readiness, according to a statement on the PBOC website.

Keep reading...Show less