Asia Pacific

Emerging markets are going through a liquidity rally, boosted by money-printing by the Fed and the ECB. But it may turn into a growth rally

Chinese GDP, industrial output, retail sales, infrastructure and household consumption data show that the economy may avoid a hard landing

China’s economy may have bottomed out over the short term but challenges remain in the long run, according to Rogoff, Rogers and Faber

The renminbi is currently moving from being a trade settlement currency to an investment and reserve currency, signaling its rapid pace of internationalisation, says HSBC.

Companies’ appetite for the offshore renminbi bond market will only gain traction if the opportunity for cost savings holds up say corporate treasurers.

Top 3 Offshore RMB DCM Transactions - 2012 YTD

Note: excludes money market and short-term debt as per Dealogic standard

Note: excludes money market and short-term debt as per Dealogic standard

Russian lender VTB Bank raised Rmb1bn ($239.4m) after returning to the offshore renminbi bond market following two years of absence, defying scepticism from some rival bankers that the deal was too tightly-priced to be successful.

The island is set to become the latest country to allow for offshore renminbi products, including bonds. By doing so, its banks hope to open a new source of revenue. Matthew Montagu-Pollock reports.

The PBOC’s main priority is to keep price rises under control and only after that to look at growth, deputy governor Yi Gang said