人民财讯11月20日电，11月13日，中央国债登记结算有限责任公司(简称"中央结算公司")成功举办2025 年境外央行类机构线上会议。本次会议以"深化合作，共筑人民币债券市场新生态"为主题，邀请财政 部、中国人民银行上海总部、国际清算银行、中国农业发展银行、中国外汇交易中心相关专家，围绕中 国债券市场开放政策、投资经验等议题展开深度交流。来自近30家境外央行类机构的代表参会，共话投 资机遇、共促市场合作。 展望未来，中央结算公司作为国家重要金融基础设施，将在管理部门指导下，持续优化金融基础设施服 务，积极搭建跨境合作桥梁，服务构建开放共赢生态，助力中国债券市场更高水平对外开放。 ...

Core Insights - The Chinese bond market has experienced healthy and rapid development, significantly enhancing its international influence and attractiveness [1][2] - There is substantial potential for further opening of the Chinese bond market, with plans to accelerate the launch of RMB government bond futures in Hong Kong [1][4] Market Development - The proportion of net financing through bonds has increased from approximately 30% five years ago to over 40% currently, indicating a growing role in overall social financing [1] - The annual turnover rate of government bonds has risen from 2.4 to 3.8 over the past five years, reflecting increased trading activity [1] - As of August 2025, the total balance of the Chinese bond market is projected to reach 192 trillion yuan, making it the second largest in the world [1] Investment Value - RMB bonds are showing strong investment value, with both short-term and long-term yields ranking among the highest globally [2] - The actual yield of RMB bonds remains relatively high even after accounting for inflation, providing a good value retention and appreciation opportunity for global RMB holders [2] Risk Diversification - RMB bonds offer significant diversification benefits, with low correlation to yields from G7 countries and other emerging markets [2] Liquidity and Trading Activity - RMB bond trading is active, with an average annual turnover rate close to 4 times for interest rate bonds, and some of the most active bonds seeing turnover rates near 150 times [2] - The bid-ask spreads for interest rate bonds have narrowed significantly, aligning closely with developed market levels [2] Foreign Investment - Currently, foreign investors hold only 2% of the total bond market, indicating considerable room for growth compared to developed and some emerging markets [2] - Nearly 1,170 foreign institutional investors from around 80 countries have entered the Chinese bond market, with total holdings reaching approximately 3.9 trillion yuan, a nearly fourfold increase since the launch of the Bond Connect [3] Regulatory Support - The central bank is working to make Chinese bonds widely accepted as eligible collateral in Hong Kong and global markets, enhancing their usability in various financial transactions [3] - Plans are in place to support foreign institutional investors in conducting bond repurchase transactions in the Chinese bond market [4]