IMF Q&A: Time for China to break the RMB free

In the past year, Chinese authorities have taken measures to boost capital inflows, while keeping the currency and potential outflows under strict control. In this exclusive Q&A with GlobalRMB, Calixte Ahokpossi, senior economist at the International Monetary Fund, says China needs more reforms, and that introducing a flexible currency framework should be a priority.

  • By Paolo Danese
  • 13 Sep 2017

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Industrial and Commercial Bank of China (ICBC) 35.00
2 China CITIC Bank Corp 30.00
3 China Merchants Securities Co 17.00
4 HSBC 5.00
4 Standard Chartered Bank 5.00

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 09-Feb-18 Sino-Ocean Group Holdings Hong Kong 3,000
2 06-Feb-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200
3 05-Feb-18 China Merchants Port Holdings (CMP) Hong Kong 500
4 01-Feb-18 The Emirate of Sharjah United Arab Emirates 2,000
5 25-Jan-18 Sino-Ocean Group Holdings Hong Kong 3,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 64.14
2 Deutsche Bank (Taipei) 7.95
3 CLSA 7.22
3 Mitsubishi UFJ Financial Group (MUFG) 7.22
5 CTBC Bank (formerly Chinatrust Commercial Bank) 2.85

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 22-Feb-18 Far East Horizon China 630
2 08-Feb-18 Sinochem Offshore Capital Company China 1,000
3 30-Jan-18 Rabobank The Netherlands 500
4 17-Jan-18 Asian Development Bank (ADB) Philippines 100
5 17-Jan-18 Export-Import Bank of Korea (Kexim) South Korea 270