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China, Hong Kong launch bond scheme

Links China's $9-trillion bond market with overseas investors to liberalise country's capital market

China-hong Kong Bond Scheme

Umesh Desai & Andrew Galbraith | Reuters  |  Hong Kong/Shanghai 

China and Hong Kong launched a long-awaited ‘Bond Connect’ scheme on Monday that links China’s $9 trillion bond market with overseas investors, the latest step in Beijing’s efforts to liberalise and strengthen the country’s capital markets.   The early signs bode well for building an active debt market, with more than two billion yuan ($295 million) of bonds purchased in the first 22 minutes of brisk trade.   HSBC Holdings and an asset management unit of Bank of China were among the first to complete trades using the scheme.   The launch of ...

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First Published: Tue, July 04 2017. 02:40 IST