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China is set to open its $4.3 trillion interbank bond market to non-financial firms following a crackdown on illegal transactions last year which led to tighter trading rules, according to a report by Bloomberg.
China’s National Association of Financial Market Institutional Investors will allow qualified investors with a minimum of 30 million yuan ($4.9 million) to participate, Bloomberg reports, citing a statement issued by the association.
These qualified investors that participate will have to use a separate trading platform from the platforms used by banks, brokerages, and insurers, according to the report.
Outstanding bonds in China have doubled over the past five years to 28.27 trillion yuan, of which 93% or 26.31 trillion yuan was accounted for by its interbank market, Bloomberg reports.
Source: Bloomberg
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