久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

RMB assets hold much pull for investors

By ZHOU LANXU | China Daily | Updated: 2021-11-10 07:09
Share
Share - WeChat
A clerk counts cash at a bank in Nantong, Jiangsu province. [Photo/Sipa]

Positives on derivatives, macro policy spur inflows; stocks, bonds set to shine

China's further opening up of the derivatives market and the distinct cycle of the country's macroeconomic policy are expected to prop up global investors' accelerated allocations for renminbi-denominated assets, experts said on Tuesday.

Some 325.98 billion yuan ($50.98 billion) has flowed into China's A shares via northbound trading under stock connects between the bourses in the Chinese mainland and Hong Kong from the beginning of this year to Tuesday, close to the annual record of 351.7 billion yuan in 2019, data from market tracker Wind Info showed.

The figure marks an acceleration compared with the net inflow of 208.9 billion yuan in the whole of 2020, withstanding the test of market jitters in July and expectations of tapering by the US Federal Reserve.

Meanwhile, foreign institutional holdings in China's interbank bond market reached 3.8 trillion yuan as at the end of September, up nearly one-third from a year earlier, data compiled by UBS showed.

The robust foreign inflows attest to the growing appeal of Chinese stock and bond assets for global investors, driven by China's deepening financial opening-up, independence in the formulation of the country's macroeconomic policy, and relative advantages in economic fundamentals, experts said.

"We expect China to further open up access-in particular, to interest rate derivatives, foreign exchange derivatives and the credit derivative market, in order to enhance risk management ability of offshore bond investors," said Liu Linan, a strategist with Deutsche Bank.

Thanks to factors including freer market access, decent yields and low volatility, offshore bond investment inflows will continue and may total 800 billion yuan this year and 4 trillion yuan for the 2021-25 period, Liu said.

China has made solid headway in capital market opening-up this year, especially with regard to giving offshore investors greater access to derivatives, to facilitate their risk management of onshore allocations.

Effective Nov 1, commodity futures, commodity options and stock index options have been added as derivatives accessible to offshore investors under the qualified foreign institutional investor program, while the Hong Kong bourse has launched its first A-share derivative product in October.

More progress can be expected, as Fang Xinghai, vice-chairman of the China Securities Regulatory Commission, said last month China's futures market will further open up and offer international investors more diversified investment choices and risk management tools.

Liu also said diversification benefits constitute another key ingredient of foreign investors' growing interest in China's bond market. "We expect China's monetary policy to be increasingly less correlated with global monetary policy."

The People's Bank of China, the central bank, launched a new structural tool to inject funds in green development on Monday, while the Fed said last week it will start the tapering of the COVID-related stimulus this month.

Louis Luo, investment director in multi-asset solutions with abrdn, a global investment company, said the policy divergence may continue as the PBOC may loosen its policy stance to shore up economic growth, reinforcing the appeal of China's A shares on the portfolio diversification front.

"China has played an increasingly more important role in global capital markets, and the trend will continue," said Karen Chen, managing head of China affairs and director of the Singapore Exchange, or SGX.

The SGX will continue to support China's agenda of capital market opening-up, especially in regard to bond market internationalization and offshore renminbi derivatives.

China's A-share market ended a tad-0.24 percent-higher on Tuesday as the benchmark Shanghai Composite Index closed at 3507.00 points, led by defense, chemicals, pharmaceuticals and agriculture.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 成人影院免费观看 | 欧美成一级 | 欧美刺激午夜性久久久久久久 | 失禁h啪肉尿出来高h健身房 | 久久久成人影院 | 中文一级国产特级毛片视频 | 国产精品久久久久久久人热 | 午夜性爽视频男人的天堂在线 | 亚洲成人自拍 | 欧美日韩亚洲第一页 | 老司机亚洲精品 | 国产成人精品magnet | 一二三区视频 | 精产网红自拍在线 | 黄视频在线免费 | 亚洲日本中文字幕在线 | 亚洲欧美大片 | 久久厕所精品国产精品亚洲 | 自拍小视频在线观看 | 欧美性三级 | 宅男噜噜噜一区二区三区 | 2022久久免费精品国产72精品 | 成人看片黄a免费 | 日韩专区亚洲综合久久 | 美女的被男人桶爽网站 | 在线精品日韩一区二区三区 | 亚洲久久网站 | 精品久久成人 | 97在线观看视频免费 | 亚洲加勒比久久88色综合 | 亚洲一级毛片欧美一级说乱 | 亚洲国产精品乱码在线观看97 | 99久久精品免费看国产一区二区三区 | 在线a网站 | 免费观看一级欧美在线视频 | 日韩国产成人精品视频 | 黄色美女网站在线观看 | 亚洲狠狠狠一区二区三区 | 国产欧美一区二区三区免费看 | 日本国产欧美 | 日韩免费在线 |