截至2025年末境外机构在中央结算公司托管债券总量2.75万亿元

Core Insights - The report from the Central Securities Depository indicates that as of December 2025, foreign institutions held a total of 2.75 trillion yuan in bonds [1] - The "Global Connect" channel accounted for 2.14 trillion yuan, representing 77.58% of the total holdings [1] Group 1: Bond Holdings - Foreign institutions primarily held government bonds amounting to 2.01 trillion yuan, which is 72.89% of their total holdings [2] - Policy bank bonds held by foreign institutions totaled 712.9 billion yuan, making up 25.9% of the total [2] Group 2: Trading and Settlement - In December 2025, the total trading and settlement volume for foreign institutions at the Central Securities Depository was 1.32 trillion yuan [3] - The "Global Connect" channel had a cash trading and settlement volume of 328.1 billion yuan and a repurchase trading volume of 383.5 billion yuan, totaling 711.6 billion yuan [3] - The "Bond Connect" channel recorded a cash trading and settlement volume of 579.1 billion yuan and a repurchase trading volume of 25.7 billion yuan, totaling 604.8 billion yuan [3] Group 3: Market Participation - As of December 2025, foreign institutions held 3.46 trillion yuan in the interbank bond market, accounting for approximately 2.0% of the total market [6] - Six new foreign institutional entities entered the interbank bond market in December, bringing the total to 1,189 foreign institutions [6]