Georgia's Central Bank Secures Direct Access to China's Bond Market
The National Bank of Georgia (NBG) has gained direct access to the China Interbank Bond Market (CIBM), marking a significant step in its investment strategy. This move follows a formal agreement signed in late 2025 and positions Georgia among a small group of central banks authorized to trade in Chinese bonds.
The process began with a memorandum signed between the NBG and the People's Bank of China. This agreement, finalized on December 23, 2025, laid the groundwork for Georgia's entry into the CIBM. By February 2026, the NBG had opened the necessary accounts with the People's Bank of China and within the CIBM's depository system.
The People's Bank of China will provide full support for trading, settlement, and custody of transactions. This collaboration aims to streamline operations and ensure smooth participation in the market. The NBG has also completed all required negotiations and contractual steps to formalize its access.
For the NBG, this development strengthens its ability to diversify international reserves and improve risk management. While other central banks, such as those of Serbia and Pakistan, have similar agreements, their strategies remain focused on renminbi internationalisation without noticeable shifts toward Chinese bonds as of early 2026.
The NBG's entry into the CIBM expands its investment options and reinforces financial stability. With operational accounts now in place, the bank can actively participate in one of the world's largest bond markets. This access is expected to play a key role in the NBG's long-term reserve management strategy.
