Capital controls don't apply, you buy the bonds through HK. Devaluation is always a risk, in any country. USD can fall too, look at historical USD exchange rat

Capital controls don't apply, you buy the bonds through HK. Devaluation is always a risk, in any country. USD can fall too, look at historical USD exchange rates to the world currency basket. Foreign bond investors have to live with that risk; I assume they don't expect a large Yuan devaluation. also see https://www.bloomberg.com/news/articles/2018-11-16/the-world-s-biggest-bond-rally-is-picking-up-steam-in-china https://www.bloomberg.com/news/articles/2018-11-16/the-world...