China and Hong Kong have launched a bond trading link that brings the world’s third-largest debt market one step closer to widespread acceptance in international investors’ portfolios.
The so-called Bond Connect will allow foreign fund managers to trade in China’s $9tn government, agency and corporate debt markets without, for the first time, having to set up onshore accounts.
More than $1tn of offshore bond funds could flow into Chinese debt in the next decade, predicts Goldman Sachs.
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