Corporate China's FX exposure brought into focus

The yuan's devaluation will likely push more Chinese companies to hedge their foreign exchange positions and look to onshore bond markets for funding.

Corporate China's FX exposure brought into focus

Chinese companies will increasingly want to hedge their foreign exchange positions and turn to the onshore bond market for funding in the wake of the renminbi's recent sharp losses.

That's the view of fixed income analysts and investors following last week's surprise move by the People's Bank of China to weaken the yuan, which cast an unfavourable hue on the largely unhedged foreign-currency debt issued by Chinese companies offshore.

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