As of the end of February 2026, foreign institutions hold 3.32 trillion yuan worth of bonds in the interbank market.

According to data released by the central bank, as of the end of February 2026, overseas institutions held 3.32 trillion yuan of bonds in the interbank market, accounting for about 1.9% of the total custody volume of the interbank bond market. In February, 4 new overseas institutions entered the interbank bond market. By the end of February, a total of 1191 overseas institutions had entered the market. Operation of overseas business at China Central Depository & Clearing Co., Ltd. (CCDC) As of the end of February 2026, overseas institutions had a total of 2.78 trillion yuan of bonds held in custody by CCDC, with the following specific breakdown: By channel, the custody volume through the "Global Connect" channel was 2.16 trillion yuan, and through the "Bond Connect" channel was 617.6 billion yuan, with the "Global Connect" channel accounting for 77.78%. Graph 1: Overseas institutions' bond custody at CCDC (in billion yuan) By type of bond, overseas institutions primarily held 2 trillion yuan of government bonds, accounting for 72.13%; and held 743.3 billion yuan of policy bank bonds, accounting for 26.74%. Graph 2: Overseas institutions' bond custody structure at CCDC (by type of bond) In February 2026, the total settlement volume of transactions by overseas institutions at CCDC was 1.67 trillion yuan. Of this, the settlement volume of spot transactions through the "Global Connect" channel was 371.1 billion yuan, and through repurchase transactions was 661.1 billion yuan, totaling 1.03 trillion yuan; while the settlement volume of spot transactions through the "Bond Connect" channel was 610.3 billion yuan, and through repurchase transactions was 29.6 billion yuan, totaling 639.9 billion yuan. Graph 3: Overseas institutions' transaction settlement volume at CCDC (in billion yuan)