BUSINESS China's Bond Connect program sees active trading in February

BUSINESS

China's Bond Connect program sees active trading in February

Xinhua

11:33, March 01, 2021

China's Bond Connect program saw active trading in February despite the long holiday in the onshore market during the Spring Festival, according to a report released by Bond Connect Co Ltd.

A worker counts Chinese currency renminbi (RMB) at a bank in Linyi, East China's Shandong province. [Photo/Xinhua]

The program saw a total of 3,670 trade tickets this month, with an average daily turnover of 20.5 billion yuan ($3.17 billion), said the report.

The total monthly trading volume under the program reached 307.4 billion yuan, the report showed.

Chinese government bonds and policy financial bonds are investors' major focus, accounting for 43 percent and 37 percent of monthly trading volume, respectively.

By the end of February, Bond Connect had 2,428 approved investors, including 76 of the top 100 global asset-management companies, the report said.

The Bond Connect program, launched in July 2017, is a mutual market-access scheme that allows overseas investors to invest in the Chinese mainland's interbank bond market.

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