The total holdings of onshore renminbi (RMB) bonds by foreign investors have exceeded 640 billion U.S. dollars, staying at a historically high level, according to the Administration of Foreign Exchange in Beijing on Tuesday.
At a press conference, Li Hongyan, deputy head of the administration, stated that China's financial market has made steady progress in opening up, with lavish attention given to foreign investment in China.
"Foreign investment in RMB assets has recently maintained a sound momentum overall. The overall yield rate of RMB bonds has remained robust this year, attracting increased allocation from foreign investors. So far, the total holdings of onshore RMB bonds by foreign investors have exceeded 640 billion U.S. dollars, staying at a high level. In terms of the structure of existing holdings, conservative investors such as central and commercial banks from abroad are the primary holders," Li said.
"Moreover, driven by the uptrend in the domestic stock market, net foreign purchases of domestic stocks have increased overall since late September, further strengthening the willingness of foreign investors to allocate RMB assets," she said.
Meanwhile, the proportion of RMB used in cross-border transactions worldwide is steadily increasing, enhancing its international influence and making it a critical option for global investors seeking diversified asset allocation, according to the official.
Foreign holdings of Chinese bonds stay at high level: official
The United Arab Emirates (UAE) and Australia rang in the year of 2026 with spectacular light and fireworks displays at their landmarks, igniting the night sky at the stroke of midnight on Jan 1.
Amidst the countdown and cheers from the crowd, the iconic 828-meter-high Burj Khalifa in Dubai, UAE illuminated the skyline with "Happy New Year" in Arabic, English, and Chinese on the tower's LED screens.
The eight-minute visually stunning show at the world's tallest skyscraper also featured drone performances and 3D projection mapping, vividly showcasing Dubai's cultural heritage and cutting-edge technology.
The New Year celebrations in downtown Dubai will be extended to eight days for the first time, running from December 31, 2025, to January 7, 2026, according to local authorities.
Australia also welcomed the New Year with dazzling fireworks in Sydney, attracting millions of visitors from all over the world to gather by the seaside to share the festive joy.
The Sydney celebration featured two separate fireworks displays – an 8-minute show at 21:00 and a 12-minute one at the midnight. Fireworks were launched from water, land, and aerial platforms at landmarks including the Harbour Bridge and the Opera House, spanning seven kilometers along the harbor and showcasing 40,000 different pyrotechnic effects.
This annual event in the Southern Hemisphere city is one of the world's most spectacular New Year celebrations, drawing millions of spectators every year. On Wednesday, people from across the globe arrived early at viewing locations to share this special moment with families and friends.
"We spend the time together with friends because everybody is away from their families, otherwise maybe you'll get a little bit homesick," said Hendrik, an Estonian working in Australia.
"My New Year's wish for my wife is to become healthy after I am pretty much healthy again," said Atthians, a German tourist.
UAE, Australia ring in New Year with spectacular fireworks
