BNP Paribas, Deutsche bag full bond underwriting licences in China, but little impact on DCM expected
![Digital China_230px](https://assets.euromoneydigital.com/dims4/default/40e3fb0/2147483647/strip/true/crop/230x150+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2Fc9%2Ff9%2Fd184a58a388669580e0a63bc4976%2Fdigital-china-230px.jpg)
BNP Paribas and Deutsche Bank have become the first two foreign banks to receive approvals to underwrite all bonds from non-financial corporations in the Chinese interbank market. While the new licence will expand their underwriting scope in the mainland, it is unlikely to make a big dent to their DCM businesses, or challenge state-owned banks’ dominance. Rebecca Feng reports.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article: