HKMA’s renminbi repo plans boost hopes for onshore access
Market participants optimistic that new provisions for offshore repos of onshore bonds are first step towards mainland access
The Hong Kong Monetary Authority’s (HKMA) recently outlined plans to allow Bond Connect investors to repo their Chinese bond holdings in the offshore market signals progress towards opening the country’s larger onshore repo market to international investors, say market participants.
“This is very encouraging and probably the first step, or like a pilot programme, to fully open up the onshore repo market,” says Ricco Zhang, senior director for Asia-Pacific at the International Capital Market
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