Differentiation in China SOE bond pricing to increase: Fidelity
Offshore bonds issued by Chinese state-owned enterprises could increasingly trade closer to their standalone credit ratings as policymakers move closer to a market-driven approach, says Fidelity.
Greater credit differentiation between bonds issued by Chinese state-owned enterprises (SOEs) may be warranted as Chinese policymakers push for quasi-sovereigns to stand on their own two feet, and prices become more market driven, according to Fidelity Worldwide Investment.Recent corporate governance scares and issues in China have been largely ...
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