China opens interbank bond market to South Africa

BEIJING: China has admitted South Africa's Reserve Bank to a growing group of central banks able to invest in the country's interbank bond market, another step to opening up capital markets and increasing international use of the yuan currency.

The People's Bank of China (PBoC) said that it signed the agreement to enable the South African central bank to invest in the Chinese local debt market, but gave no details about the size of the investment programme.