HK eyes dim sum bond target
Source: Bloomberg News |
August 20, 2011, Saturday
|
Print Edition
Print Edition
HONG Kong hopes China will raise the 50 billion yuan (US$7.8 billion) target for yuan-denominated bond sales by mainland companies next year and sees no signs of a crackdown on issuance, the city's treasury secretary said yesterday.
The so-called dim sum debt market should sustain its pace of expansion, K.C. Chan, secretary for financial services and the treasury, said in Hong Kong yesterday. Initiatives announced this week by Vice Premier Li Keqiang will support the market, Chan said.
"We have a new policy which allows non-financial companies to access our bond market," Chan said. "It starts with 50 billion yuan, financial and non-financial, but we always knew it would start with this number. Next year, that number should continue, and hopefully a higher number. Definitely we see this as a very positive sign."
Li outlined the target for mainland company bond sales during a visit to Hong Kong this week and said China will support the use of yuan for foreign direct investment on the mainland, a reference to new regulations.
Chan also said an exchange-traded fund for mainland investors to invest in Hong Kong may be ready to start in a few months.
Hang Seng Indexes Co yesterday said it's working with two money management companies to create funds tracking Hong Kong stocks that would trade on the mainland.
The Hong Kong index provider is planning an ETF linked to the Hang Seng Index and one following the Hang Seng China Enterprises Index, said Vincent Kwan, director and general manager at Hang Seng Indexes.
The so-called dim sum debt market should sustain its pace of expansion, K.C. Chan, secretary for financial services and the treasury, said in Hong Kong yesterday. Initiatives announced this week by Vice Premier Li Keqiang will support the market, Chan said.
"We have a new policy which allows non-financial companies to access our bond market," Chan said. "It starts with 50 billion yuan, financial and non-financial, but we always knew it would start with this number. Next year, that number should continue, and hopefully a higher number. Definitely we see this as a very positive sign."
Li outlined the target for mainland company bond sales during a visit to Hong Kong this week and said China will support the use of yuan for foreign direct investment on the mainland, a reference to new regulations.
Chan also said an exchange-traded fund for mainland investors to invest in Hong Kong may be ready to start in a few months.
Hang Seng Indexes Co yesterday said it's working with two money management companies to create funds tracking Hong Kong stocks that would trade on the mainland.
The Hong Kong index provider is planning an ETF linked to the Hang Seng Index and one following the Hang Seng China Enterprises Index, said Vincent Kwan, director and general manager at Hang Seng Indexes.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
