Foreign holdings of Chinese bonds have jumped 50 per cent in the past two years as overseas investors have seized on Beijing’s push to open up its estimated Rmb73tn ($11tn) fixed-income market.
But, if some commentators are to be believed, we have not seen anything yet.
Despite the buying spree, foreigners still only held Rmb921bn of Chinese bonds in October, according to data from the Chinese Academy of Social Sciences and Citi, as the chart below shows.
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