Global funds cut China bond holdings by record as premiums erode

Beijing

GLOBAL funds slashed their holdings of Chinese bonds by the most on record last month amid the nation's dwindling yield advantage over the US and geopolitical uncertainties posed by the war in Ukraine.

Overseas investors offloaded a record 50 billion yuan (S$10.7 billion) of Chinese sovereign debt in March, reducing their holdings to 2.43 trillion yuan, showed Bloomberg calculations based on data from the People's Bank of China (PBOC).