China launches sovereign debt futures for foreign investors via Hong Kong - Macau Business

China launches sovereign debt futures for foreign investors via Hong Kong - Macau Business

Source: Macau Business

DW NOTE

China is opening its sovereign debt futures market to foreign investors through Hong Kong — a move that looks less like liberalization and more like a controlled experiment in who gets to bet against the renminbi without destabilizing the capital account. Every time Beijing grants foreigners access to a new onshore instrument, it does so on terms that preserve its ability to shut the door if flows reverse. The question is not whether foreign money will come in, but whether it will be allowed to leave on the same terms.

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