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Yicai Global: Shanghai Clearing Looks to Introduce North American Investors to China’s Bond Market

(Yicai Global) April 7 -- China’s Interbank Market Clearing House Co (Shanghai Clearing) is mulling a collaboration with Toronto’s stock exchange, TMX Group, to facilitate North American investment in Chinese bonds and develop a new approach to opening up China’s bond market, Shanghai Clearing’s Chairman Xu Zhen said.
He made the remarks at a seminar on interbank bond market deregulation named ‘The Yuan Market: The Financial Bond Between China and Canada,’ held in Toronto yesterday.
Lou Eccleston, TMX’s chief executive, hopes that comprehensive cooperation between the two companies will start with the bond market but progress to offer more options and create greater momentum for bond market deregulation.
In recent years, China’s central bank has ramped up its opening of the domestic bond market by introducing a series of major reforms, such as easing market access and quota restrictions and diversifying risk hedging instruments, in line with growing demand for yuan-denominated assets among foreign investors. The bank plans to further deregulate the market.
China’s economy has developed rapidly alongside its bond market. Last year, bonds issued in China totaled CNY36.1 trillion (USD5.2 trillion), up 54.2 percent from a year earlier, according to data from the People’s Bank of China.

Link: http://www.yicaiglobal.com/news/50065957.html