More than a year following China’s decision to widen foreign investors’ access to its interbank bond market, things are starting to fall into place. China’s inclusion in the Emerging Markets Government Bond Index and such other indices as the Asian Government Bond Index and the Asia-Pacific Government Bond Index is a positive development that promises more foreign inflows.
In the G3 market, Chinese issuers account for the lion’s share of primary activity as local government financing vehicles join government and private corporates in issuing bonds. Chinese issuers now account for up to 60% of the total market activity worth over US$200 billion a year. Analysts expect more Chinese issuers will debut in the international market in the next few years.
China’s activity in both the onshore and offshore bond markets reflect the country’s rising stature in the global financial markets. There is increasing interest in China’s bond markets among foreign investors. For now, foreign investment accounts for less than 2% of China’s US$9.5 trillion onshore bond market.
An understanding of Chinese issuers and the onshore market is vital for any global fixed income manager planning to invest in China. While opportunities abound, the challenges around investing in the country often are quite complex. The weakening of the renminbi, concerns around credit ratings, recent corporate defaults and a general lack of clarity about the inner workings of the onshore bond market have slowed efforts of global investors to access China’s debt market.
Now on its 11th year, the Asian Bond Markets Summit is the definitive fixed income event in Asia that draws the largest participation of issuers and institutional investors. Organized in association with the Asian Development Bank, the Asian Bond Markets Summit is a part of Asean Bond Markets Initiative especially in deepening the development of Asia’s bond markets.
中国决定向境外长期投资者开放中国银行间债券市场(CIBM)已逾一年,市场现正处于平稳发展中。中国被纳入新兴市场政府债券指数、亚洲政府债券指数以及亚太政府债券指数等,即表明市场处于正向发展中,这为更多外资流入市场建立信心。
G3债券市场上,地方政府的融资平台通过加入国企和私企发行债券,使中国发行者成为占据市场份额中的绝大多数。中国发行人以每年超过两千亿美元的资金,占市场总量的近60%。分析师预计,在未来几年将会有更多的中国发行人在国际市场亮相。
中国在离岸和在岸债券市场的活跃度,反映了其在全球金融体系中日益壮大的地位。使得外国投资者对中国债券市场的兴趣日渐浓厚。目前,外国投资在中国的9.5万亿美元在岸债券市场中,资金占比不到2%。
了解中国发行人和在岸市场,对于全球任何有计划在中国投资的固定收益经理都至关重要。尽管机会处处,但在该国投资所需面临的挑战仍相较复杂。人民币的疲软、信用评级的隐忧、近期的企业违约以及在岸债券市场的内部运作普遍缺乏透明度等问题,都减缓了全球投资者进入中国债券市场的脚步。
允许外国投资者发行人民币债券的熊猫债券,成功重新引起投资者的兴趣。但中国对债券募集回国的限制,仍然困扰着诸多投资者。另一方面,证券化市场正提高市场规范化程度,以期吸引更多外国参与者的加入。在中国的“一带一路”战略规划中,一系列有关管道运输的基础建设项目需要资金支持,而亚洲债券市场正可帮助解决这些需求。
Sponsoring or exhibiting at The Asset 11th Asian Bond Markets Summit - Asia Edition is a prime opportunity to put your products and services in front of key industry players and decision makers.
Depending on your goals and level of sponsorship required, a benefits package can be designed to target a particular audience or broad group. Features include prime speaking positions on the main programme, a large exhibition in the main networking room offering suppliers a platform to network and showcase their solutions and intimate roundtable discussions, enabling vendors to promote their services and expertise in interactive sessions.
无论参展或赞助2017年亚洲债券市场峰会,都会让您的产品和服务面向行业参与者和决策者的绝佳机会
依据您的目的和所需的赞助级别,我们可针对特定会众或多个群体为您订制一套优惠方案。功能包括:主活动的主讲位置;主交谊厅的大型展览,为供应商提供拓展人脉平台的同时,更可以展示其解决方案;以及紧密的圆桌讨论,使供应商能够在互动环节中推广其服务和专长。
As our Event Partner you have the opportunity to create new industry connections and generate new business opportunities. You meet relevant decision makers, professionals and finance industry leaders.
成为我们的合作伙伴,您将有机会与相关决策者、专业人士及金融行业领导者会面,进而拓展业内关系和建立业务机会。