Why have Chinese bonds become a "safe haven" for foreign investment?

Against the backdrop of intensified volatility in the global financial markets and rising risk aversion, foreign capital has continued to increase their investment in Renminbi bonds. Data shows that from April 1st to 18th, foreign capital's net purchase of Renminbi bonds significantly increased to $33.2 billion. Experts interviewed indicate that China's stable macroeconomic conditions, predictable policy environment, stable exchange rate, low volatility, and high certainty characteristics have made Renminbi bonds an important choice for global investors to optimize asset allocation and hedge risks. At the same time, the arbitrage opportunities brought by currency forwards and the continuous deepening of financial market opening further enhance the attractiveness of Renminbi bonds to foreign investors.