Beijing, Feb 14 (IANS) China’s central bank on Sunday allowed individual investors to purchase all types of bonds over bank counters.
Individuals with annual income of more than 500,000 yuan ($76,500), 3 million yuan of financial assets and over two years of securities investment experience can now buy any bonds they like over the counter, according to a regulation released by the People’s Bank of China (PBOC).
Previously, only certificate treasury bonds were available to individuals, Xinhua news agency reported.
The new policy aims to boost the bond market and direct financing, the PBOC said.
China’s bond market boomed in 2015 due to government moves to diversify corporate financing channels.
Around 22.3 trillion yuan of new bonds were issued last year, almost double the sum in 2014.