China's trust industry debuts offshore bond

China's enormous shadow banking sector steps into the international spotlight, with the pricing of a debut offshore bond issue by Zhongrong International Trust.

China's trust industry debuts offshore bond

Zhongrong International Trust became the first issuer from the Chinese trust industry to venture into the offshore bond markets on Monday with a $225 million three-year transaction. 

Over the past decade trust companies have become the second largest segment of China's financial sector behind commercial banks, racking up assets of Rmb14.41 trillion $2.32 trillion by the end of the first quarter.

Their growth has fuelled demand for the kind of credit...

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