China Revamps $12 Trillion Bond Market to Lure Foreign Investors
China is stepping up the pace of reform in its $12 trillion bond market, seeking to lure more foreign investment as the yuan slumps and threats to economic growth increase.
In recent weeks, China has issued new rules to help bonds gain entry into int'l indexes. The PBOC has eased restrictions on credit-ratings companies. The cabinet has told officials to more quickly unify a mkt with multiple regulators and trading venues.