In face of the new coronavirus' shock to global financial markets, China aims to be a stabilizing force — beginning with its own markets.
unchanged in March from the prior month. The PBoC has made some targeted interest rate cuts, and announced hundreds of billions of yuan in special loans to support businesses hit hard by the virus.
More importantly for foreign investors, the average daily spread, or difference between, the U.S. and Chinese 10-year government bond yield, was 172 basis points between Feb. 20 and March 19, according to China's foreign exchange regulator. That makes Chinese assets quite attractive to foreign investors, and addresses one ofDomestic stability has limits
China's financial markets are large, but are still relatively closed to the rest of the world, in contrast to the country's deep ties with global supply chains and international trade. Foreign capital accounts for less than 4% of the tradeable A-share market capitalization, according to the China Securities Regulatory Commission.
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