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在线翻译:
szdaily -> Markets
Panda bonds have plenty of room to grow: HSBC
    2017-November-7  08:53    Shenzhen Daily

CHINA’S panda bond market has plenty of leeway for expansion after the government allowed more foreign investors to buy debt in the nation, according to HSBC Holdings Plc.

David Liao, president and chief executive officer at HSBC Bank China Co., said there is a lot of client interest in raising money through the yuan-denominated notes issued in China by foreign borrowers.

The market for such securities, which began in 2005, is still small. Outstanding notes total only 195 billion yuan (US$29 billion) compared with 70.4 trillion yuan for all onshore notes.

“The panda market is still very, very small compared with its potential,” Liao said. “The current market size is really just a starting point.”

China has been further opening the world’s third-biggest debt market to help counter capital outflows and promote greater use of the yuan.

HSBC last month became the first foreign lender to win approval to be a joint lead underwriter for yuan-denominated bonds issued by foreign non-financial companies in China’s interbank market.

In July, overseas investors were allowed to invest via Hong Kong through the bond-connect program in the interbank market.

“Panda bonds will allow a wider scope of investment opportunities for foreign investors,” said Liao. “If they have familiar household multinational names, they can buy into, it can certainly alleviate their credit concerns as they familiarize with investment in China. They can then move on to local credits and other sectors of the market.” (SD-Agencies)

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