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CN Reportedly Bans Investors from Buying LGFV Dim Sum Bonds via Bond Connect
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In an attempt to control risks, China has banned domestic investors from purchasing offshore RMB bonds (dim sum bonds) issued by local government financing vehicles (LGFVs) through the Bond Connect with Hong Kong, Bloomberg, citing sources, reported. It is understood that the mainland has instructed domestic brokers and banks to suspend purchasing LGFV dim sum bonds through the Bond Connect. It remains unknown when the purchase can resume, and it is also unclear whether mainland investors can still purchase LGFV dim sum bonds through other channels such as the Qualified Domestic Institutional Investor (QDII) program. AAStocks Financial News |
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