By the end of November 2021, in terms of incorporated entities, 503 overseas investors have registered through CIBM Direct scheme and 721 overseas investors through Bond Connect scheme, adding 4 and 8 new entities respectively over last month.

Registered number of overseas investors by the end of November

In November, the cash bond trading turnover of overseas investors amounted to 1039.0 billion yuan, up by 38% MoM, which represented 5% of the total turnover for interbank cash bond market. The total monthly figure comprised 574.8 billion yuan of bond purchase and 464.2 billion yuan of bond sell, giving a net purchase of 110.6 billion yuan. The turnover reached 395.0 billion yuan for CIBM Direct (358.8 billion yuan through agent trade and 36.2 billion yuan through Direct-RFQ service) with net purchase of 107.3 billion yuan, and 644.0 billion yuan for Bond Connect with net purchase of 3.3 billion yuan.

In November, overseas investors traded73.6 billion yuan during extended trading hours, which accounted for 7% of the total turn over of overseas investors.

Bond Type

Bond Tenor

Settlement Cycle

CFETS launched closing order trading service on November 29, which allowed foreign investors to conclude the trades with domestic market makers in the form of CFETS bond closing valuation (C-Val) plus/minus a spread. Currently, Tradeweb has joined with CFETS to support this new service. In November, a total of 17 foreign investors, mostly foreign pensions, have concluded 20 transactions with onshore dealers through closing order trading service. These trades are mainly on Treasury bonds.

Uptodate, more than 50 institutions participated in Southbound Bond Connect trading. In November, onshore investors traded foreign corporate bonds, government bonds and others in CNH, USD and HKD.