Hui Xian IPO a hard act to follow

The offshore renminbi bond market may still be young but in April it acquired a little brother with the listing of the first equity in the currency on the Hong Kong Stock Exchange. Deprived of liquidity, Hui Xian Real Estate Investment Trust endured a tough start that reined in expectations of more near-term issuance. But with local deposits growing fast, the establishment of a thriving market is just a matter of time, writes Nick Jacob.