The inclusion of Chinese government and policy-bank bonds into global benchmarks could drive foreign interest to the US$13-trillion* onshore bond market. With foreign holdings currently only about 2%*, a wealth of opportunities exist.
There are many benefits to holding renminbi-denominated bonds: they have low correlation with other assets, yields are attractive, the renminbi has historically been quite stable, and athe market has ample liquidity.
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* "Explainer: Why China's inclusion in global bond benchmarks matters", Reuters, published March 29, 2019.