Hong Kong’s development as an offshore renminbi (RMB) centre continues to gather pace, with the growing RMB Eurobond market (RMB bonds issued in Hong Kong) being a key element. Deutsche Bank became the first non-Asian bank to issue an RMB Eurobond last week, with a Rmb500 million ($73 million) deal for China Development Bank, and the first non-bank and corporate deals have also appeared in the past couple of months. Jerry Li, Deutsche Bank's head of global rates in China, and Patrick Tsang, head of fixed-income capital markets, talk about the emergence of this market and what it means for offshore borrowers looking to raise RMB funding.
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