To replace the $20 billion of capital that left HK in August, the Chinese Communist Party propped it up with massive southbound flows

Mr. Kyle Bass, Chief Investment Officer of Hayman Capital Management, twittered ’To replace the $20 billion of capital that left HK in August, the Chinese Communist Party propped it up with massive southbound flows’.

According to the joint announcement issued by the People’s Bank of China and the Hong Kong Monetary Authority in 2017, the Southbound Trading means allowing mainland investors to invest in Hong Kong’s bond market through mutual access between the financial infrastructure institutions of the two places. It belongs to the trading platform, called Bond Connect, which would operate alongside the two existing cross-border Stock Connect programs between the Chinese mainland and Hong Kong.

Source: https://twitter.com/jkylebass/status/1190230420404748288?s=21 and brought to you by GNews.

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Nov. 01, 2019