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China to allow foreign investors to transfer bond holdings among schemes

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China to allow foreign investors to transfer bond holdings among schemes

China will allow foreign investors to transfer their domestic bond holdings among their own various accounts as part of the country's efforts to attract more overseas funds to its onshore debt market.

The People's Bank of China and State Administration of Foreign Exchange said in a joint release Oct. 16 that they will allow foreign bond investors to transfer the yuan bonds they hold among their own accounts established under the three schemes: Qualified Foreign Institutional Investors, Renminbi Qualified Foreign Institutional Investors and China Interbank Bond Market Direct.

The new rule will be effective Nov. 15.