In the long run, as China’s currency is increasingly used abroad, it will be one of the few leading global currencies, however US strength will maintain the supremacy of the US dollar, according to analysts at a Sino-German roundtable.
Corporate issuances are increasing in the offshore Renminbi bond market, despite challenges around rates, liquidity and diversification; Hong Kong is poised to benefit.
As one of China's leading credit rating agencies, China Lianhe Credit Rating Co. Ltd (Lianhe Ratings) continues to support development and innovation in the domestic economy and bond market, driving strategic expansion in the local and offshore markets.
The Rmb2.5bn 2.0% notes are the German carmaker’s third onshore Renminbi bond issuance. The company told FA that the move is part of its funding diversification efforts.
The issuance from the Hong Kong conglomerate, formerly known as NWS Holdings, was to finance the redemption of its outstanding offshore capital securities by its subsidiary.