A record Rmb4.64 trillion $674.6 billion of renminbi-denominated bonds will mature this year, according to Dealogic data. That is around 18% more than 2016.
In theory, the heavy maturities should offer a boon to domestic debt bankers, potentially giving them more than 1,500 old deals to refinance alongside the new issues they will be able to bring to the market.
But theory and practice all too often differ two major hurdles stand in the way of a boom year for China's domestic debt underwriters.
For one thing, the market has become increasingly competitive over the last few years. The National Association of Financial...
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