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MNI BRIEF: Continue Opening Bond Market To Foreigners - SAFE

MNI (BEIJING)
MNI (Beijing)

China will continue to open its bond market to foreigners, according to Wang Chunying, spokesperson at the State Administration of Foreign Exchange (SAFE) on Friday.

Answering a question from MNI, Wang said overseas investors will increase holdings of yuan assets in H2 as they seek diversified and stable investments. CNY assets will further attract Investors as China prioritises an independent monetary policy and maintains a large liquid bond market, factors other emerging markets can not provide.

Wang said China should maintain a current account surplus given its economic structure and high savings rate, but noted consumption and domestic demand would play an increasing role in future.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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