HONG KONG/SHANGHAI, June 30 (Reuters) - “Northbound” trading through a long-awaited “Bond Connect” programme to connect China’s $9 trillion bond market with overseas investors will start on Monday, according to a calendar posted Friday evening on the programme’s website.
The announcement, timed to coincide with the 20th anniversary of Hong Kong’s handover to Chinese rule on July 1, marks the latest step in the opening up of China’s capital markets. It follows the introduction of similar programmes allowing two-way trading between stock markets in Hong Kong and Shanghai and Shenzhen.
“Northbound” trading refers to foreign investors buying and selling Chinese bonds. (Reporting by Michelle Price in Hong Kong and Andrew Galbraith in Shanghai; Editing by Nick Macfie)