China’s domestic bonds, denominated in renminbi, have been popular with international investors this year. But changes in key market conditions, including an upsurge in corporate defaults and the renminbi’s slide against the US dollar, raise questions over the sustainability of inflows.
今年,人民幣計價的中國國內債券受到了國際投資者的歡迎。但關鍵市場條件的變化——包括企業違約激增和人民幣對美元匯率下跌——引發了對資本流入可持續性的質疑。
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