China gives other central banks, funds more access to interbank market

[BEIJING] Approved foreign central banks, sovereign wealth funds and financial institutions can now buy or sell bonds or invest in interest rate swaps in China's interbank market, the Chinese central bank said on Tuesday.

The People's Bank of China said in a statement on its website that foreign central banks and financial institutions must first register themselves with the Chinese authorities before they can proceed to invest in the interbank market.

The central bank said these foreign investors are free to decide the sizes of their investment.

REUTERS