The opening of the China interbank bond market is yet another key piece to the country’s strategy to integrate its finance industry to the global financial markets. Unrestricted access to the world’s third largest bond market sounds promising. Yet a year after its launch, participation of global investors is still at a minimum. The weakening of the renminbi, credit ratings issues, recent defaults and a general lack of clarity of the inner workings of CIBM have stifled the entry of international investors.
Panda bonds, which allows foreign issuers to access China’s onshore markets, have recently enjoyed a revival although issues such as use of proceeds remain a challenge. The securitization market, on the other hand, is set to expand as new regulations which allow foreign companies to participate come into play. China’s belt and road initiative has a huge pipeline of projects that needs financing and Asia’s bond markets are seen as an important funding tool for these projects.
Now in 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 focused on deepening the development of Asia’s bond markets.
What to expect:
- China’s interbank bond market – what it really means for investors?
- The revival of panda bonds
- RMB inclusion in SDR and SDR bond
- Securitization – the new era
- How can Asia’s bond markets support belt and road initiatives?
- Green bonds – what’s next?
- Emerging influence of Chinese investors in G3 bond markets
- Chinese issuers offshore – SOEs and LGFVs
- Fintech and the bond markets