The opening of China’s bond market is expected to bring 10 trillion affluent “living water”
The opening of China’s bond market is expected to bring trillions of dollars of “living water”. The reporter Bao Xingan’s China’s bond market has gradually opened its doors to global investors.
Chinese bonds have been divided by the Bloomberg Barclays Global Composite Index, and the FTSE Russell Index and JP Morgan Chase Global Emerging Markets Diversified Bond Index are also planning to swap.
Experts believe that in the future, it is expected to attract more overseas investors to allocate Chinese market bonds.
According to Liu Zhe, deputy director of the Weber New Economics Institute, the Bloomberg Barclays Global Composite Index is one of the world’s mainstream bond indexes, which means that the opening of China’s bond market has entered a substantial stage.The pace of “entry into Morocco” and “entry into wealth” is continuously accelerating. Joining the three major international bond indexes is expected to bring trillions of yuan in allocation funds to the Chinese bond market.
For example, Ge Shoujing, a senior expert in macro strategy at the Institute of Financial Research, said in an interview with the Securities Daily that if China’s bonds are divided into the three major global bond indices, it will bring about a passive inflow of US $ 250 billion in funds.
On April 1, renminbi-denominated government bonds and policy bank bonds were listed by the Bloomberg Barclays Global Composite Index, and Chinese bonds became the fourth-largest denominated currency bond after the US dollar, euro, and yen; FTSE Russell expects to officially begin in September.Announced whether to include Chinese government bonds in the rich nations World Treasury Index, and may consider Chinese credit bonds before the end of the year; JP Morgan Chase is assessing whether to fully include Chinese bonds in the global emerging market diversified bond index.The Index Governance Advisory Conference invites investors to include Chinese bonds in the relevant index feedback. If it can be successfully divided, it is expected that Chinese bonds will account for 7% to 10% of the index.
Sun Binbin, chief analyst of Tianfeng Securities Solid Income, believes that in addition to the international mainstream bond index, RMB bonds will first bring a certain amount of incremental funds, which has a significant effect on interest rate debt, especially government bonds.
In fact, according to international experience, the opening and 西安耍耍网 reorganization of the bond market into the existing bull market will help boost the gradual and long-term trend of increasing the linkage between ChinaBond and international bond prices.
Ge Shoujing believes that the opening up of the bond markets of developing countries is conducive to the gradual development of the offshore RMB exchange rate regression mechanism, promotes the internationalization of the RMB and the construction of international financial centers, and enhances the international competitiveness of international financial markets and the global influence of financial standards.
It is recommended to continue to improve the construction of supporting facilities for related financial foundations; to improve the market for government bonds and policy financial bonds to improve market liquidity; to accelerate the release of restrictions on foreign investors from investing in the domestic RMB bond market, and to effectively increase the active trading of the bond marketDegree and degree of internationalization.
As an important part of the expansion and opening up of the bond market, the credit rating industry has been steadily advancing to the outside world.
In January this year, S & P Global was approved to enter the Chinese credit rating market for credit rating business.
It is preliminarily believed that the current internationalization of China’s financial market is accelerating, and the appointment of international rating agencies is conducive to meeting the demands of international investors for the allocation of diversified RMB assets, and also to promoting the improvement of the rating quality of China’s rating industry.