The total holdings of onshore renminbi (RMB) bonds by foreign investors have exceeded 640 billion U.S. dollars, staying at a historically high level, according to the Administration of Foreign Exchange in Beijing on Tuesday.
At a press conference, Li Hongyan, deputy head of the administration, stated that China's financial market has made steady progress in opening up, with lavish attention given to foreign investment in China.
"Foreign investment in RMB assets has recently maintained a sound momentum overall. The overall yield rate of RMB bonds has remained robust this year, attracting increased allocation from foreign investors. So far, the total holdings of onshore RMB bonds by foreign investors have exceeded 640 billion U.S. dollars, staying at a high level. In terms of the structure of existing holdings, conservative investors such as central and commercial banks from abroad are the primary holders," Li said.
"Moreover, driven by the uptrend in the domestic stock market, net foreign purchases of domestic stocks have increased overall since late September, further strengthening the willingness of foreign investors to allocate RMB assets," she said.
Meanwhile, the proportion of RMB used in cross-border transactions worldwide is steadily increasing, enhancing its international influence and making it a critical option for global investors seeking diversified asset allocation, according to the official.
Foreign holdings of Chinese bonds stay at high level: official
