Central Banking

PBoC seeks to reassure bond investors amid default concerns

Pan Gongsheng says the central bank has not seen any “special abnormalities”

July 3 marks the first anniversary of the bond connect scheme

Officials from both China and Hong Kong have sought to reassure nervous bond investors while committing to further improve financial links.

Market liberalisation initiatives including the ‘bond connect’ have attracted 70% more foreign holdings in China’s bond market within a year, but investors are now struggling with rising corporate bond default risk and a slowdown of the economy.

Today (July 3) marks the first anniversary of the bond connect scheme, a major move in China’s capital account

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FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

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