Overseas investors cut holdings of Chinese governments bonds for first time in two years in March

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Overseas investors reduced their holdings of Chinese government bonds for the first time in two years in March, as the yield premium over US Treasuries narrowed and the government scheduled more debt sales.

Overseas institutional investors held 2.04 trillion yuan ($311.9 billion) worth of Chinese government bonds as of the end of March, compared to 2.06 trillion yuan a month earlier, according to data released by interbank market depository China Central Depository & Clearing Co (CCDC) on Wednesday. It was the first drop in foreign holdings of the bonds since February 2019.