Foreign investors returned to China’s onshore yuan-denominated bond market in May for the first time since April 2025, according to official data released on Monday.
Data from the central bank’s Shanghai head office showed that overseas institutions held 3.21 trillion yuan (around $475 billion) in bonds traded on China’s interbank market at the end of May, up from 3.12 trillion yuan in the previous month.
The rebound comes as China’s bond market has remained largely insulated from a global sell-off that has pushed benchmark yields higher across major economies, including the United States, the United Kingdom, the euro zone and Japan. Yields in those markets have risen by 35 to 60 basis points since the outbreak of the Iran conflict.
(with inputs from Reuters)
