China bonds approaching 'defining moment'

The development of China’s bond market is entering a defining period that promises to be a game-changer for investment portfolios, a forum heard recently. At $5.5 trillion, the mainland’s fixed income market is already one of the world’s largest, although restricted access has seen it maintain a low profile. But new opportunities are emerging, in light of the fast-developing area of corporate credit, strong issuance from municipal governments and the forthcoming addition of inst…