‘Turf war’ in China caused MTN freeze
The clampdown on medium term note issuance in the Chinese domestic market is the result of a "turf war" between overlapping regulators, a senior financial lawyer in Shanghai told EuroWeek yesterday (Thursday).
When the dust settles and MTNs are allowed to be issued assuming they will be the Peoples Bank of China is likely to take a back seat, monitoring only the commercial paper market, said Fang Jian, a partner at Linklaters in Shanghai.
In April, bankers and
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