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SHANGHAI, March 17 (Reuters) - China is getting close to a southbound leg for its Bond Connect programme, the general manager of the programme’s joint venture operator said on Wednesday, as authorities seek to ease capital inflow pressures behind a soaring yuan.
A southbound leg would give Chinese investors access to foreign bond markets through the scheme. A northbound leg launched in July 2017 eased foreign access to Chinese bonds.
“Southbound trading will happen when northbound trading is extremely successful, insofar as we see so much ‘capital in’ that there will be need for ‘capital out’,” Julien Martin, general manager of Bond Connect Co. Ltd, told an online briefing.
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SHANGHAI China is getting close to a southbound leg for its Bond Connect program, the general manager of the program’s joint venture operator said on Wednesday, as authorities seek to ease capital inflow pressures behind a soaring yuan.
A southbound leg would give Chinese investors access to foreign bond markets through the scheme. A northbound leg launched in July 2017 eased foreign access to Chinese bonds.
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“Southbound trading will happen when northbound trading is extremely successful, insofar as we see so much ‘capital in’ that there will be need for ‘capital out’,” Julien Martin, general manager of Bond Connect Co. Ltd, told an online briefing.