... "By allocating to RMB bonds, foreign investors can reduce portfolio volatility and improve risk-adjusted returns." ... "In the face of frequent geopolitical risks, the safe-haven role of RMB bonds has emerged," Yu said, adding that as the RMB internationalization progresses, demand for RMB assets as reserves is growing, and this is expected to support the growth of RMB bonds holdings by central banks and sovereign wealth funds.
LOL, what a crock.
Foreign investors own less than $1 trillion of Chinese debt, compared with over $9 trillion of U.S. debt.
... [U.S.] Treasuries are relied upon by global central banks as the pre-eminent reserve asset, since the $30tn market for the securities is the biggest and deepest in the world. ...
More.
