Investors clamour for landmark UK dim sum

Hong Kong's dim sum bond market has been growing strongly over the past 36 months.

The HKMA and CMU OmniClear are leading Hong Kong’s ambitions to internationalise the use of Chinese bonds in global trading. The development of the innovative infrastructure represents a breakthrough for Rmb repos, clearing, settlement and custody.

CICC was the lead global coordinator on the Rmb2bn dim sum bond issuance with a yield of 3.35%; the bonds, which are becoming increasingly popular, were listed on the HKEX and will be used for Belt & Road initiatives.

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 UK pharmaceutical giant has announced a landmark $15bn China investment during the UK prime minister’s visit, marking its largest expansion yet to boost manufacturing, R&D and biotech collaboration.

Shanghai has been handed more tools, including the acceleration of offshore loans and digital trade, to aid offshore financial services in a boost to the city as a global financial hub; there is also cooperation with Hong Kong.