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Japan's GPIF to avoid yuan-denominated Chinese sovereign bonds

Huge pension fund wary of market as Evergrande debt crisis unfolds

Japan's massive pension investment fund had been closely evaluating Chinese government bonds even before the Evergrande crisis.   © Reuters

TOKYO -- Japan's Government Pension Investment Fund has decided not to include yuan-denominated Chinese government bonds in its portfolio, Nikkei has learned.

The move came after British index provider FTSE Russell decided to include Chinese government bonds in its benchmark FTSE World Government Bond Index (WGBI) in March. The move by the WGBI will be phased in over a three-year period starting at the end of October.

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