China has opened up its onshore bond market to foreign investors with the launch of the bond connect scheme today. "Northbound" trade, which allows foreign investors to buy bonds issued on the Chinese mainland, started Monday, without caps on investment volume.
Southbound trading would be explored at a later stage, the new Bond Connect website said.
Ivan Chung, associate managing director at Moody's, said the program would boost yuan internationalization as it enlarges the pool of investable yuan-denominated assets for foreign investors. We will increasingly see Central Banks buying Chinese government bonds.
A giant screen at the launch ceremony showed 2.15 billion yuan worth of bonds were purchased in the first 22 minutes of trade.
The move is the latest in China's efforts to attract global investors to its vast government and corporate debt markets, the world's third-largest, with its outstanding bonds hitting over US$9 trillion in 2016.
As reported by the South China Morning Post, Yunho Song, Senior Advisor to the president of Ping An Securities, said: "In comparison with previous rules on foreign investors" investment in the Chinese bond market, Bond Connect has significantly abridged the procedures for foreign investors who cannot only "click' and enter the Chinese bond market but also purchase directly in foreign currencies".
Raptors to re-sign Serge Ibaka Toronto has a lot of questions heading into the 2017-18 season, and they could regret not breaking up the team in this offseason. Free agent guard Kyle Lowry announced that he will be staying with the Toronto Raptors in an essay on The Players Tribune .
Worldwide individual investors applauded the launch of Bond Connect, which heralds the next major phase in China's financial market liberalization. This is below the worldwide norm of about 10 percent, BNP Paribas said.
Deutsche Bank said it had executed its first two transactions leveraging the initiative, as did HSBC and BNP Paribas as market makers.
Bond Connect does away with onerous requirements for outsiders and eases worries about taking profits out of China, but downsides include worries about the depreciating yuan and reliability of China's domestic credit rating agencies.
"For foreign investors wishing to access the Chinese market, the Bond Connect would be a more attractive option than the current practice of accessing the interbank bond market, in terms of limits in quota, convenience in trading and criteria in clearing", said Zhang Dong, vice president of Ping An Securities, noting that he sees "an huge growth opportunity". China Development Bank said it planned to issue up to 20 billion yuan ($2.95 billion) of one-year, three-year and 10-year fixed-rate bonds for tender on Monday.
Standard Chartered was also mandated as Special Underwriter in China and a Joint Global Coordinator in Hong Kong for Agricultural Development Bank of China's 16 billion yuan bond issuance, the first primary offer out of the Bond Connect scheme.
Zhang , a 26-year-old visiting scholar from China, was reported missing from the University of IL at Urbana-Champaign on June 9. She and the driver speak for a period of time before she gets in the auto , which drives away heading north on Goodwin.
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This represents a dividend yield of 1.17%. 993.29 million shares or 0.55% less from 998.81 million shares in 2016Q3 were reported. After $0.94 actual EPS reported by PepsiCo, Inc. for the previous quarter, Wall Street now forecasts 48.94% EPS growth.
Republicans hold 52 Senate seats, and they need 50 votes to pass the bill, with Vice President Mike Pence breaking the tie. One GOP senator has said Trump doesn't understand the bare bones of the bill, much less its details.
Activists have renewed calls for his release after he was sent to hospital for cancer treatment, under police custody. Protesters waved placards denouncing Hong Kong and Beijing leaders and banners in support of a wide range of causes.
If you try to purchase fireworks (other than sparklers), many stores and roadside stands will often ask you to sign a waiver form. For those looking to enjoy fireworks , the department advises that you stick with the professional events.
Abu Dhabi-based Etihad on Sunday night said US-bound passengers can now take electronics on board its aircraft. On landing in the USA , travellers arrive as a domestic passenger with no need for immigration checks again.
Such a disjointed lead-up will not help Murray's chances at the Championships, which will be the most open for a long time. World number one Andy Murray has pulled out of his first exhibition match at Hurlingham Club with a sore hip .
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The opinions expressed in this article are exclusively those of the author and are not necessarily those of World Religion News. Craig and Mullins were legally Wednesday in MA , because Colorado had not legalized same-sax marriage until 2014.