China DCM sees record H1 but momentum is fading

Driven by a frenetic first three months of the year in which investors fell over themselves to snap up any credit story presented to them, the debt capital markets business in China has seen a remarkable first half of 2013. But bankers are resisting any urge to see a long-term trend in the startling numbers, and are instead warning that the momentum is already fading — and is unlikely to return.