China’s cautious approach to credit default swaps (CDS) has left the market a minnow compared with other large financial systems. Paolo Danese investigates.
CDS remain a footnote in the Chinese financial markets, despite the gargantuan size of China’s economy. There were just Rmb300m ($47.7m) of CDS contracts outstanding at the time this article was written, split across 15 deals, based on data provided by market participants.
There have been moments