People's Bank of China Shanghai Headquarters: As of the end of May, foreign institutions held 3.21 trillion yuan in bonds in the interbank market.

Data from the Shanghai headquarters of the People's Bank of China shows that as of the end of May 2026, overseas institutions held 3.21 trillion yuan of bonds in the interbank market, accounting for approximately 1.8% of the total custody volume in the interbank bond market. By type of bond, overseas institutions held 2 trillion yuan of government bonds, accounting for 62.3%, 760 billion yuan of policy financial bonds, accounting for 23.7%, 300 billion yuan of interbank certificates of deposit, accounting for 9.3%, and 150 billion yuan of other types of bonds, accounting for 4.7%. In May, 4 new overseas institutional participants entered the interbank bond market. As of the end of May, a total of 1198 overseas institutional participants have entered the market, with 633 entering through settlement agent channels, 842 through the "Bond Connect" channel, and 277 through both channels simultaneously. In May, the trading volume of overseas institutions in the interbank bond market was approximately 1.40 trillion yuan, with a daily average trading volume of approximately 780 billion yuan. This article is excerpted from the Shanghai headquarters of the People's Bank of China, edited by GMTEight: Jiang Yuanhua.