China’s foreign holdings of renminbi bonds exceed US$640 billion

Beijing: The yield on renminbi bonds has been good since the start of the year, attracting foreign investors to increase their holdings, Xinhua News Agency quoted the State Administration of Foreign Exchanges as saying Tuesday. Up till now, foreign holdings of domestic renminbi bonds have exceeded US$640 billion, reaching a historic high, Li Hongyan, Deputy Head of the Administration, told a press conference. "Overall, holdings of renminbi assets by foreign capital help to diversify the participants in the domestic market, enhance market liquidity, and promote a more active and international development of the domestic capital market," Li said. The administration will continuously improve investment facilitation, create a favourable investment environment, promote high-level financial opening up to the outside world, and actively support foreign investors in participating in the Chinese capital market, Li added. Source: Emirates News Agency