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02.04.26 - 06:36
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China′s JD.com returns to dim sum bond market with 10b yuan offering (SCMP)
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Chinese e-commerce major JD.com has priced a 10 billion yuan (US$1.5 billion) dual-tranche offshore bond offering, as issuers from mainland China return to the currency amid improving funding conditions.
The Beijing-based e-commerce giant said in a filing to the Hong Kong stock exchange on Thursday that the dim sum bond – yuan-denominated notes issued outside the mainland – comprises 7.5 billion yuan of five-year senior unsecured notes carrying a 2.05 per cent coupon, and 2.5 billion yuan of......
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25.03.26 - 01:01
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Chinese Bonds Are Becoming a De Facto Reserve Asset, Gavekal Says (Bloomberg)
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There is no shortage of investors touting Chinese assets as a haven since the Iran conflict erupted. But Charles Gave and his son Louis-Vincent of Gavekal Research go a step further. They argue that Chinese government bonds are emerging as de facto reserve assets — potentially, at the expense of gold and US Treasuries....
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04.03.26 - 09:00
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China′s sovereign debt is becoming a strategic alternative to US Treasuries: economist (SCMP)
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China's sovereign debt is emerging as a strategic alternative to US Treasuries as global investors look for geopolitical hedges, though greater market liquidity and deeper yuan internationalisation are still needed to cement its status as a global safe haven, an economist at a Chinese government think tank has said.
“[These bonds] circumvent the restrictions of the non-convertibility of the renminbi,” said Xu Qiyuan, deputy director of the American Studies Institute at the Chinese Academy of......
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24.02.26 - 01:21
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Is China Really Dumping US Treasuries? (ZeroHedge)
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Is China Really Dumping US Treasuries?
Authored by Lance Roberts via RealInvestmentAdvice.com,
“China is dumping US Treasuries to get out of the dollar.” This claim has been circulating the mainstream feeds lately, with the narrative that the “end of the dollar is near,” or “the US will lose its funding base” and the “bond yields will surge.” But are those claims valid? Such is what we will explore in more detail.
Let's start with the chart that has everyone concerned. As shown, China's holdings of US Treasury bonds have fallen from nearly $1.2 trillion to $600 billion, or a 50% decline. On the surface, you can certainly understand the reasons for concern, as the decline in holdings over the last decade supports a clean storyline.
However, the problem is the step between observation and conclusion. A lower line item for “China, Mainland” does not equal a forced sale, it does not prove intent, nor does it prove a structural exit. What it does show is a lack of und...
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