Beijing sold dollar debt directly to US buyers for the first time, with a $6bn offering drawing record demand on the back of China’s economic recovery from coronavirus and despite tensions with Washington.
The billions of dollars of bonds sold by China’s finance ministry on Thursday drew orders worth more than $27bn, or roughly $10bn more than an offering of the same size last year, according to bankers on the deal.
The Chinese government’s move to directly tap US investors just weeks before a presidential election reflects confidence that calls to decouple the world’s two biggest economies will yield little meaningful change, analysts said.