ABS in the spotlight as China deleverages

Chinese banks and corporations are making use of the fast-growing asset-backed securitization (ABS) market to aid the country’s deleveraging efforts, analysts told GlobalRMB.

  • By Noah Sin
  • 07 Nov 2017
While there was no explicit mention of deleveraging through ABS during the recent 19th National Congress of the Communist Party of China, policymakers have made it clear they want capital markets to move to the forefront of funding activities, Alexander Batchvarov, head of international structured finance research, Bank ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 18.90
2 CITIC Securities 14.44
3 Agricultural Bank of China (ABC) 13.13
3 Industrial and Commercial Bank of China (ICBC) 13.13
5 China CITIC Bank Corp 11.81

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 28-Jun-18 China Water Affairs Group China 200
2 26-Jun-18 Want Want China Holdings Taiwan 500
3 14-Jun-18 Bank of China Group Investment China 1,000
4 29-May-18 CITIC Pacific China 1,000
5 24-May-18 Beijing Enterprises Water Group China 3,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 33.47
2 HSBC 19.33
3 Societe Generale 4.75
4 Bank of Taiwan 4.07
4 Cathay United Bank 4.07

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 21-Jun-18 Shimao Property Holdings China 1,200
2 19-Jun-18 Korea Development Bank (KDB) South Korea 1,750
3 07-Jun-18 Export-Import Bank of Korea (Kexim) South Korea 1,500
4 23-May-18 QNB Finance Qatar 600
5 16-May-18 First Abu Dhabi Bank PJSC United Arab Emirates 1,100