國家外匯管理局數據顯示，去年9月至12月外資連續凈增持境內債券累計逾600億美元，顯示更多外資配置人民幣資產。多位外資金融機構人士表示，隨著中國經濟持續恢復向好，中國債券市場的開放力度不斷加大，將繼續看好中國債券市場。

Buoyed by an upward trend in the economy and continued opening-up efforts, China's bond market has maintained its appeal for foreign capital despite lingering global financial volatility.
在經濟回升向好和持續對外開放的推動下，盡管全球金融動蕩持續，但中國債券市場對外資仍具有吸引力。

Overseas investors continued to purchase Chinese bonds from September to December 2023, with an increase of over $60 billion in net holdings, indicating the growing popularity of renminbi (RMB) assets, according to the State Administration of Foreign Exchange.
根據國家外匯管理局數據，去年9月至12月外資連續凈增持境內債券累計逾600億美元，顯示更多外資配置人民幣資產。

Although the US and European interest rate hikes made the yields of Chinese bonds less stellar, the Chinese bond market, the world's second-largest, has remained a magnet for foreign investors.
盡管受歐美央行加息等因素影響，中國債券的絕對票面利率相對吸引力有所減弱，但作為中國債市仍展現出較強“磁力”，市場規模已躍升至全球第二位。

Ching Cheuk-hung, Senior Executive Vice-President and Deputy Chief Executive Officer of HSBC Bank (China) Company Limited, said the country's steady economic recovery, effective pro-growth measures, and accelerated economic restructuring have helped boost the attractiveness of RMB-denominated assets.
匯豐中國常務副行長兼副行政總裁程卓雄表示，中國經濟回升向好，提振措施不斷出臺，經濟結構轉型穩步提速，使得人民幣資產的投資價值得到了更好的體現。

The correlation between Chinese bonds and European and US bonds is relatively weak, and purchasing Chinese bonds has become a necessary choice for more and more international investors, said John Tan, Standard Chartered head of financial markets in Asia.
“中國債券和歐美債券的關聯性較低。配置中國債券已成為越來越多國際投資者的必選項?！痹蚣瘓F亞洲金融市場部主管陳銘僑表示。

According to a Standard Chartered research report, a more dovish US Federal Reserve, a better RMB outlook and the currency's rising international usage are conducive to bringing more foreign inflows to China's onshore bonds in 2024, and the number of foreign investors is likely to continue to rise.
渣打銀行一份研究報告認為，隨著美聯儲有望降息，人民幣國際化步伐加速，預計2024年外資將持續凈買入中國債券，投資中國債券市場的外資機構數量也將進一步提升。

The bond market opening-up has picked up pace since the beginning of this year. RMB treasury bonds and financial bonds issued by policy banks can be used as eligible collateral under the Bond Connect program, and all existing overseas institutions in the Chinese bond market are allowed to conduct repurchase business.
今年以來，債券市場對外開放步伐加快。政策性銀行發行的人民幣國債和金融債券可作為債券通計劃下的合格抵押品，允許中國債券市場上所有現有海外機構開展回購業務。

Analysts believe that the new measures will further enhance the attractiveness of China's bond market and help investors better manage liquidity and control capital costs, marking a step forward in market opening-up.
分析人士認為，新措施將進一步增強中國債券市場的吸引力，幫助投資者更好地管理流動性和控制資金成本，標志著市場開放邁出了一步。

The Bond Connect program, launched in July 2017, is a mutual market-access scheme that allows overseas investors to invest in the Chinese mainland's interbank bond market.
債券通計劃于2017年7月啟動，是一項允許境外投資者投資內地銀行間債券市場的互市準入計劃。

By the end of 2023, overseas institutions held 3.72 trillion yuan (about $523.81 billion) of Chinese bonds, up 340 percent from the value before the launch of the program.
截至2023年末，境外機構在中國債券市場的托管余額為3.72萬億元，較“債券通”開通前增長340%。

Moreover, China's National Association of Financial Market Institutional Investors has approved 10 more foreign-funded institutions, including HSBC and Standard Chartered, as lead underwriters or underwriters of debt financing instruments for non-financial enterprises.
此外，中國金融市場機構投資者協會已批準包括匯豐銀行和渣打銀行在內的10家外資機構作為非金融企業債務融資工具的主承銷商或承銷商。

Foreign investors mainly held treasury and policy bonds in China and their asset allocation of credit debts has much room for improvement, HSBC's Ching said.
程卓雄表示，境外投資者目前持有的中國債券品種主要集中在國債、政策性金融債等，對信用債的配置還有很大的提升空間。

Wesley Yang, Deputy CEO of Standard Chartered China, said the bank will help Chinese issuers achieve high-quality development through green bond issuance and will support the bond financing of micro, small and medium-sized enterprises.
渣打銀行（中國）有限公司副行長楊京稱，渣打銀行將助力發行人通過綠色債券實現高質量發展，并支持中小微企業的債券融資。

China's financial opening-up is advancing steadily and beats expectations, said Samuel Fischer, Head of China Onshore Debt Capital Markets of Deutsche Bank, adding that the bank is optimistic about the development prospects and potential of RMB financing.
德意志銀行中國債務資本市場主管方中睿認為，中國的金融開放穩步推進，超出預期，德銀看好人民幣融資的發展前景和潛力。

"As one of the first foreign banks fully licensed in China's interbank bond market, Deutsche Bank will continue to leverage our strengths to offer financing solutions to bond issuers with different credit backgrounds to tap into China's debt capital market," said Fischer. "We're committed to promoting the further opening-up of China's capital market and the long-term development of China's bond market."
“作為最早獲得中國銀行間債券市場承銷業務全牌照的外資行之一，德銀將繼續發揮自身業務優勢，為不同信用背景的發行人提供債務資本市場融資方案，并將持續支持國際發行人在中國的業務發展及融資需求，促進中國資本市場的對外開放和中國債券市場的長遠發展?！狈街蓄Ｕf。

英文來源：新華網

編輯：董靜

審核：丹妮 于涵