FTSE Russell's September WGBI profile shows China accounts for 11.9% of the
index, making it the second-largest government-bond market by weight after the
US. Inclusion in the WGBI marks a milestone in China's financial opening. As
China's index weight rises, global investors are increasingly treating Chinese
government bonds as a portfolio diversifier. Market observers say the Chinese
The bond market has shown resilience amid rising international uncertainty, and
ongoing deepening of RMB capital-market infrastructure is boosting foreign
institutions' willingness to allocate to RMB assets.