(Yicai Global) April 8 -- Overseas institutions are racing to enter the Chinese bond market, lured in by the nation's continuous opening-up and strong economic growth.
About 300 new foreign institutional investors opened their bond trading accounts in the first quarter, quadrupling from last year, according to the currency regulator of the China Foreign Exchange Trade System.
Products from global leading assets management firms like BlackRock have entered the Chinese bond market, the regulator said.
The value of overseas institutional investors' transactions on China's bond market rose 31 percent to CNY919.1 billion (USD136.8 billion) in the first three months of this year.
Last week, China's yuan-denominated bonds were added to the Bloomberg Barclays Global Aggregate Bond Index, a gauge of investment grade debt from 24 local currency markets. A total of 356 government and policy bank bonds will be added into the benchmark over the next 20 months.
Editor: Emmi Laine