China to let foreign banks underwrite corporate bonds
Beijing is close to letting foreign banks underwrite onshore corporate bonds, as it strives to deepen the development of China’s debt capital markets. HSBC is one bank at the forefront of winning such approval, according to people familiar with the situation.
Beijing is close to allowing foreign banks to participate in a wider range of domestic renminbi bond businesses in China, which includes underwriting the corporate bonds onshore, as it seeks to strengthen the local bond market.
Various foreign banks including Citi, Deutsche Bank, HSBC and Standard Chartered are
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