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Russia May Own $140 Billion Worth of Chinese Bonds, ANZ Says

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Russia’s central bank and sovereign wealth fund probably own a combined $140 billion worth of Chinese bonds, assets that they may seek to access given global sanctions, estimates by Australia & New Zealand Banking Group show.

The Bank of Russia could hold $80 billion of yuan debt, while the National Wealth Fund is estimated to own $60 billion, analysts including Raymond Yeung wrote in a report Wednesday. Together, that represents almost a quarter of foreign ownership in China’s domestic bond market, they said.