Chinese banks get ready for dim sum blitz

Chinese banks are racing against each other to borrow offshore renminbi through their onshore entities.

China’s top lenders are awaiting approval to issue a swath of dim sum bonds after the summer break and are close to formalising mandates, according to banking sources. The flood of issuance likely to be issued through the mainland entities of Chinese banks is expected after the Ministry of Finance auctions its dim sum bonds in August.

Agricultural Bank of China ABC is said to be close to formally announcing a mandate. At least two foreign banks HSBC and Standard Chartered are close to the deal, while a few Chinese banks are also expected to play a role.

According to a banking source, the target is to...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222