Offshore renminbi bond market to grow at least 50%
HSBC predicts that the offshore renminbi bond market will quickly expand on the back of increasing borrowing costs on the mainland and rising global investor interest in gaining exposure to assets denominated in the appreciating currency.
The growth prospects for the offshore renminbi bond market are strong this year, with gross bond issuance likely to grow by at least 50% to reach Rmb60 billion (US$9.07 billion) this year, predicts HSBC.
The UK bank predicts that this will happen as a result of two factors.
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