Foreign investors get China bond tax waiver

Foreign asset managers will be temporarily exempt from capital gains tax (CGT) on their holdings in the China interbank bond market (CIBM), AsianInvestor understands. But they will need to pay 10% withholding tax for coupon interest income tax on policy bank and corporate bonds, though not government securities.  The guidance comes as the market awaits the official rules from mainland tax authorities. In the meantime, central banks are seen to be driving big flows into the CIBM. …