Korea commercial banks to invest directly in China inter-bank bonds

China is to allow South Korea’s commercial banks, securities houses and insurance companies to invest directly in China’s onshore inter-bank bond market (CIBM) via renminbi, two Seoul based sources have told GlobalRMB. The move is the first time that foreign commercial financial institutions not operating in China will have been awarded this access and is being seen as additional regulatory support by China for South Korea’s local RMB business.