The central bank substantially liberalized foreign institutions into the bond market – Sohu Finance-nlite

03 May

The central bank substantially liberalized foreign institutions into the bond market – Sohu finance Beijing daily news (reporter Cui Qibin, Cheng Weimiao, Liu Shuangxia) China’s bond market opening up is constantly accelerating. Yesterday, the central bank announced that the introduction of more qualified foreign institutional investors, encourage foreign institutional investors as long-term investors to invest in inter bank bond market, while the abolition of the quota limit for foreign institutions. The central bank basically liberalized all types of foreign machine related companies stock movements access. The central bank announcement shows that the investment products issued by all kinds of financial institutions registered abroad, as well as other medium and long-term institutional investors approved by the central bank, such as pension funds, charitable funds and donation funds, can invest in the inter-bank bond market. As early as August 2010, the central bank allowed three kinds of institutions, such as overseas RMB clearing bank, to use RMB to invest in inter bank bond market. The relevant regulations issued by CSRC and other departments in 2012 issued by qualified foreign institutional investors (QFII) indicate that QFII can invest in the inter-bank bond market within the approved amount of investment. At the same time, at the end of April 2015, the central bank approved by HSBC, Morgan Stanley and French bank of Paris more than 30 overseas financial institutions to enter the inter-bank market. Just 3 months later, the central bank, the international financial organizations and the sovereign wealth funds and other institutions limited the scope and scope of investment, and changed the audit system to the filing system. And the overseas banks, insurance, securities, fund companies approved admission, overseas investment institutions basically liberalized. According to public information, by the end of 2015, there were 292 foreign central banks, sovereign financial funds and other foreign institutions into the interbank market. It is worth noting that the central bank also cancelled the quota limit for the long-term and long-term institutional investors to invest in inter bank bond markets, and simplified the management process. The central bank released the day before the work of the paper pointed out that the problems of China’s treasury bonds have structural defects, excessive regulation of the derivatives market, investors access is underdeveloped and the marketization of commercial banks lack of pricing power, these problems caused by short-term interest rates in China through the transmission efficiency of the bond market than in many countries is weak, so the proposed relaxation of foreign institutions to enter the bank bond market restrictions on foreign investors to open bond market to accelerate the pace, improve QFII and RMB qualified foreign institutional investors (RQFII) limit. In his speech on the budget, Ceng Junhua, the financial secretary of Hongkong, will continue to discuss with the mainland the channels to expand the two-way circulation of cross-border RMB, and will strive to increase the amount of investment in the RQFII plan. And a series of release and expansion of the channel also led to a significant increase in investment. The data released by the State Administration of justice showed that as of February 23, 2016, 158 RQFII had been approved, with a total investment of 471 billion 425 million yuan, an increase of 1 billion 600 million yuan compared with the end of 2016 in 1. QFII has 279, total approval of 80 billion 795 million dollars of investment quota, with the end of 2016 1 flat. For the central bank’s move, the Pacific Securities analyst believes that the central bank intends to expand the inter-bank bond market, the implementation of direct financing, plus)

央行大幅度放开境外机构入债市-搜狐财经   北京商报讯 (记者 崔启斌 程维妙 刘双霞)我国债券市场对外开放正不断提速。昨日,央行发布公告称,要引入更多符合条件的境外机构投资者,鼓励境外机构投资者作为中长期投资者投资银行间债券市场,同时对境外机构取消额度限制。  央行此次基本放开所有类型的境外机 相关公司股票走势 构准入。央行公告表明,境外依法注册成立的各类金融机构发行的投资产品,以及养老基金、慈善基金、捐赠基金等央行认可的其他中长期机构投资者,均可投资银行间债券市场。  早在2010年8月央行允许境外人民币清算行等三类机构运用人民币投资银行间债券市场。而证监会等部门在2012年发布的合格境外机构投资者(QFII)相关规定表示,在批准投资额度内,QFII可以投资银行间债券市场。同时,在2015年4月底,央行批准汇丰、摩根士丹利和法国巴黎银行等30余家境外金融机构进入银行间市场。短短3个月后,又全部放开境外央行、国际金融组织和主权财富基金等机构的额度限制和投资范围,并将审核制改为备案制。而此次境外银行、保险、证券、基金公司等获批入场,境外投资机构基本全部放开。  据公开资料显示,截至2015年末,已经有292家境外央行主权财务基金等境外机构进入银行间市场。  值得注意的是,央行同时取消了中长期机构投资者投资银行间债市的额度限制,并简化了管理流程。央行日前发布的工作论文指出,我国国债发行存在结构缺陷、对投资者准入的过度管制、衍生品市场不发达、商业银行市场化定价能力缺失等问题,这些问题造成我国短期利率通过债券市场的传导效率比许多国家偏弱,因此建议放宽境外机构进入银行间债券市场的限制,加快对境外投资者开放债券市场的步伐,提高QFII与人民币合格境外机构投资者(RQFII)的额度。  香港财政司司长曾俊华在预算案讲话中也提出,会继续与内地探讨扩大跨境人民币双向流通的渠道,并将争取增加RQFII计划投资额度。而此前的一系列放行和扩渠也带动了投资额的显著上升。国家外管局昨日公布的数据显示,截至2016年2月23日,已批准158家RQFII,累计获得可投资总额4714.25亿元,较2016年1月末增加16亿元。QFII有279家,合计批准807.95亿美元的投资额度,与2016年1月末持平。  对于央行此举,太平洋证券相关分析师认为,央行意在扩大银行间债券市场,推行直接融资,并加速人民币国际化。  另有分析人士直言,我国债市如果能吸引更多境外投资者前来投资,将有助于国际资本均衡流动,减少外汇储备消耗。  作者:崔启斌 程维妙 刘双霞来源北京商报)相关的主题文章: