BRI reflects China’s RMB conundrum: economist

The Belt and Road Initiative (BRI) may be highlighting the dollar’s dominance rather than the renminbi’s potential in the global economy. But Beijing has other aces up its sleeve, Paola Subacchi, an economist at Chatham House, said at the Asian Development Bank’s annual meeting.

  • By Noah Sin
  • 08 May 2018

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 17.33
2 Industrial and Commercial Bank of China (ICBC) 14.45
3 CITIC Securities 10.36
4 Agricultural Bank of China (ABC) 9.42
5 China CITIC Bank Corp 8.48

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 15-Oct-18 China Power International Development China 2,000
2 11-Oct-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200
3 28-Sep-18 Trafigura Singapore 700
4 17-Sep-18 The Wharf (Holdings) Hong Kong 2,000
5 10-Sep-18 China Gas Holdings China 1,500

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 33.31
2 HSBC 20.53
3 Societe Generale 4.21
4 Bank of Taiwan 3.60
4 Cathay United Bank 3.60

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 19-Sep-18 Agricultural Development Bank of China (ADBC) China 1,200
2 17-Sep-18 Hitachi Capital (UK) United Kingdom 600
3 13-Sep-18 CIFI Holdings China 1,000
4 05-Sep-18 Daimler Germany 1,000
5 03-Sep-18 First Abu Dhabi Bank PJSC United Arab Emirates 650