I'm under the impression that there aren't enough RMB-denominated bonds on the market right now, hence why PBOC and MOC recently suggested Chinese banks make more RMB loans overseas. Chinese Treasury bonds cannot be the solution to this problem anyways as this would put China in the same position as the US gov which has to run a constant deficit.
Chinese bond market, equity market and part ownership of companies are exactly the kind of places you would want to invest in if you are holding rmb. A lot more of these assets have become investable by outside investors due to the advent of Shanghai hk connect. Chinese bond market is huge. Whether outside investors are willing to invest in them is a different story.
this kind of stuff is meaningless. Nobody can make accurate assessment on stuff like this.
Maybe the West has no access to the CIPS data.
