FA at 30: How dim sum bonds unlocked liquidity without opening China’s capital account

Issuances for offshore Rmb bonds now exceed Rmb1 trillion -- transitioning from a policy ambition to a commercial solution in less than two decades. Christopher Chu examines the trend, which started in 2007, as part of FA’s 30th anniversary coverage.

It has been nearly 20 years since China Development Bank (CDB) launched its first Rmb-denominated bond in Hong Kong. At the time, neither the size nor the yield was particularly remarkable. What was noticeable was not the underlying asset being sold, but rather where the deal was taking place.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media