Foreign Policy on the latest step on China's road to financial market liberalization.
Now, investors have access to $9.7 trillion in Chinese debt; it’s the third largest bond market behind the United States and Japan. Bonds worth $1 billion were purchased Monday.
Even if the liberalization move is welcome, it is limited. For now, it’s a so-called northbound scheme, meaning foreign investors have access to Chinese bonds, but Chinese investors don’t yet have access to bonds traded in Hong Kong.