Foreign Institutional Investors are Granted Unprecedented Access to China’s Interbank Bond Market

October 06, 2016

A new program providing fund managers with access to China’s principal bond market officially opened for business in May 2016. The program – known as the China Interbank Bond Market (CIBM) program – greatly simplifies the process of fixed-income investing in China. Previously, managers needed to obtain licenses and quotas to invest in bonds, a process that could take months. In contrast, managers can now expect to be granted access through the CIBM program in just weeks; the first managers for the CIBM program were announced in June 2016. Despite these enhancements, the CIBM program has some unusual features of which managers should be aware.

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