July 3, 2017 / 9:42 AM / 5 months ago

China-HK "Bond Connect" sees 7.05 bln yuan of trade on first day

HONG KONG, July 3 (Reuters) - Global investors purchased 4.9 billion yuan ($721.4 million) of China bonds on Monday, on the first day of a long-awaited “Bond Connect” scheme that links China’s $9 trillion bond market with overseas investors.

The aggregate trading volume was 7.05 billion yuan, the China Foreign Exchange Trade System said on its website.

The launch of the programme was timed to coincide with the 20th anniversary of Hong Kong’s handover to Chinese rule and trading will initially be “northbound”, meaning foreign investors will be able to buy and sell Chinese bonds. ($1 = 6.7925 Chinese yuan) (Reporting by Meg Shen; Editing by Jacqueline Wong)

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