HONG KONG -- Foreign investment has poured into Chinese domestic bonds over the past year in pursuit of high yields at a time when interest rates in much of the world hover around zero. But amid a spate of defaults, foreign holdings of Chinese corporate debt have declined, according to official data.
Data released by Central China Depository & Clearing on Thursday showed foreign institutions holding a mere 9.84 billion yuan ($1.52 billion) worth of corporate bonds traded on the local interbank market as of Dec. 31, a 28% decline from a year earlier.
