Opinion: China reforms key to HK renminbi bond market

If Beijing is serious about developing Hong Kong’s renminbi bond market, it needs to change convertibility rules and allow corporates to sell paper to swell liquidity and add diversity. It must also issue regularly in the city to help create a benchmark.

  • 09 Sep 2009

China is taking a step towards deepening Hong Kong’s renminbi bond markets with its Rmb6 billion (US$868 million) sovereign debt sale set for the end of this month.

Still, more needs to be done to develop the sector, as much for China as for Hong Kong.

The move is ...

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1 HSBC 28,223.50 154 4.73%
2 Citi 26,227.60 115 4.39%
3 JPMorgan 25,473.97 91 4.27%
4 Bank of America Merrill Lynch 22,276.03 80 3.73%
5 Deutsche Bank 15,118.81 53 2.53%

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4 Citi 7,842.85 18 9.72%
5 HSBC 7,676.17 21 9.51%

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1 Citi 11,098.04 44 11.79%
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5 Bank of America Merrill Lynch 6,050.33 16 6.43%

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5 Citi 95.36 35 5.16%

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1 UniCredit 3,264.13 20 14.39%
2 SG Corporate & Investment Banking 2,182.27 11 9.62%
3 Citi 2,120.82 12 9.35%
4 ING 2,033.06 14 8.96%
5 HSBC 1,187.85 12 5.24%

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1 AXIS Bank 3,850.08 83 22.30%
2 Trust Investment Advisors 1,962.88 100 11.37%
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5 Standard Chartered Bank 1,233.86 15 7.15%