The report is the latest warning to the country's bond market after the People's Bank of China (PBOC) sounded concerns and introduced plans to sell treasury bonds to cool a bond rally.
A staff member counts Chinese Yuan at a bank's personal finance business service area in Haian, East China's Jiangsu province, Sept 15, 2023.Financial institutions snapping up Chinese government bonds are basically shorting the Chinese economy, China's central bank-backed Financial News reported on Saturday, citing what it said were the views of industry sources and experts.
It came after the paper said late on Friday that China's central bank is determined to maintain a normal upward-sloping yield curve and correct bond-market risks. The move shows the central bank's desire to stabilise exchange rate and economic expectations, Financial News reported, citing unnamed experts.
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