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Foreign investors fled the Chinese bond market

According to the Financial Times, foreign investors sold 131 billion yuan (nearly 18 billion USD) worth of bonds in March. This move brings the total amount of capital divestment through the Chinese bond channel in the last two months up to nearly 30 billion USD. This is the largest capital withdrawal since China started opening its domestic bond market.

Standard Chartered Bank forecasts that this trend will continue into the second quarter. This development occurs at a time when the Chinese economy is still being affected by the large-scale blockade orders to prevent COVID-19, combined with with Western central banks starting to raise interest rates to fight inflation leading to money being sucked out of China.

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