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Wanted: Global buyers for China's 1.6 trillion yuan muni bond flood
The securities regulator is studying improvements to programmes allowing overseas access to domestic markets to attract more funds
Add BT as a preferred sourcePublished Mon, Apr 13, 2015 · 09:50 PM
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Beijing
AS deregulation drives a world-beating rally in China's stocks, the bond market is crying out for funds.
The government's 10-year note fell for a seventh week, a record losing run, pushing the yield to a four-month high of 3.70 per cent amid a flood of new issuance. The finance ministry estimates local governments will sell at least 1.6 trillion yuan (S$353 billion) of debt this year, four times as much as in 2014, as policymakers rush to clean up off-balance-sheet liabilities.
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