China has initiated a bond-market-connect scheme with Brazil, establishing the first such link among emerging markets. This move expands China's existing network of capital market 'connect' schemes across three continents.

China has launched a bond-market-connect scheme with Brazil, Chinese media outlets reported this week, marking the first such link among emerging markets. Schemes such as this one, often dubbed “connects” between Chinese bond or stock markets and their offshore counterparts, typically allow investors to bypass special permits or capital-flow controls when trading on either side’s exchanges. China now maintains at least five offshore capital-market “connect” schemes on three continents. Hong...