China sticks with US Treasuries – for now

The State Administration of Foreign Exchange (Safe) has poured cold water over claims that China may stop buying US Treasury bonds. But there is a need for the country to diversify its debt portfolio in the long run if it is serious about promoting RMB internationalisation, economists told GlobalRMB.

  • By Noah Sin
  • 12 Jan 2018

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 18.04
2 Agricultural Bank of China (ABC) 15.83
2 CITIC Securities 15.83
4 China CITIC Bank Corp 14.25
5 Industrial and Commercial Bank of China (ICBC) 11.08

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 23-Apr-18 CAR Inc Hong Kong 730
2 11-Apr-18 China Jinmao Holdings China 3,000
3 11-Apr-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200
4 04-Apr-18 China Resources Land China 4,000
5 03-Apr-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 4,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 31.68
2 HSBC 13.57
3 Bank of Taiwan 5.50
3 Cathay United Bank 5.50
5 Societe Generale Securities Services 4.77

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 24-Apr-18 CAR Inc China 350
2 19-Apr-18 Shui On Development (Holdco for Shui On Land) China 600
3 10-Apr-18 Bank of China Taipei Branch (BOC Taipei) China 3,000
4 27-Mar-18 Daimler International Finance Germany 1,000
5 26-Mar-18 CAR Inc China 400