Local and foreign banks in China are expected to increase their offshore bond issuance. A new Chinese government policy will boost foreign banks’ offshore bond issuance substantially, while the growing internationalisation of the yuan will encourage Chinese banks to do the same.
Most Chinese offshore issuers are banks. China’s offshore bond market is divided into US dollar bonds and yuan-denominated bonds, commonly called “dim sum bonds.
“The National Development and Reform Commission NDRC will further expand the scale of offshore bond issuance by foreign banks in China, according to economic conditions, to facilitate cross-border financing,” said a November 26 notice on the website...
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