11月末境外机构 持有银行间市场债券3.61万亿元

Core Insights - The People's Bank of China Shanghai Headquarters reported that by the end of November 2025, foreign institutions held 3.61 trillion yuan in the interbank bond market, accounting for approximately 2.1% of the total custody amount in this market [1] Group 1: Foreign Holdings - Foreign institutions held 2.03 trillion yuan in government bonds, representing 56.2% of their total holdings [1] - Holdings in policy financial bonds amounted to 0.76 trillion yuan, making up 21.1% of the total [1] - The amount held in interbank certificates of deposit was 0.69 trillion yuan, which is 19.1% of the total [1] - Other types of bonds held by foreign institutions totaled 0.13 trillion yuan, accounting for 3.6% [1] Group 2: Market Participation - In November, 9 new foreign institutional entities entered the interbank bond market [1] - As of the end of November, there were 1,187 foreign institutional entities in the market, with 620 entering through settlement agency channels and 839 through the Bond Connect channel [1] - The trading volume of cash bonds by foreign institutions in the interbank bond market was approximately 1.06 trillion yuan in November, with an average daily trading volume of about 532 billion yuan [1]