The People’s Bank of China opened the interbank bond market to foreign institutional investors last year to attract long-term inflows amid a weakening currency and a flight of capital. Ma Jun, chief economist at the research bureau of the People’s Bank of China, said last week that regulators were taking steps to further open the bond market to boost the chance of inclusion in global bond indexes. Monday’s announcement is a “significant” development in market liberalization, Goldman Sachs Group Inc. said in a research note.
