China opens interbank bond market to foreign central banks
The move is among the most significant towards renminbi liberalisation since QFII, says StanChart's head of central banks; quotas are scrapped and central banks can register for a licence through third parties
The People's Bank of China (PBoC) has quietly scrapped limits on foreign central banks' access to China's interbank bond market, a development described by one market participant as one of the most significant moves towards renminbi internationalisation since the introduction of the qualified foreign institutional investor (QFII) programme in 2002.
Central banks, sovereign wealth funds (SWFs) and multilateral institutions will be able to access the market through private settlement agents, some
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