Citi China gets license for bond settlement
Print Edition
CITIGROUP became the first US bank to receive a bond settlement license from the People’s Bank of China to allow it to participate in the country’s interbank bond market.
The Type A license will allow Citigroup’s China unit to trade, settle and provide custody for interbank bond market products. Four other foreign banks — Deutsche Bank, BNP Paribas, Standard Chartered Bank and HSBC — also have the license.
Citi China received the license as China has recently widened access to its interbank bond market for foreign investors and the central bank is continuing to develop the regulatory environment, the lender said.
Market players also saw the central bank’s decision as a result of the yuan’s significance globally.
“China’s bond market is exciting and dynamic as China accelerates the internationalization of the yuan,” Christine Lam, president and chief executive officer of Citi China, said in a statement.
China’s bond market has grown more than sixfold since 2005 to become the third-largest globally by issuance, according to China Central Depository & Clearing Co. The interbank bond market accounted for over 90 percent of total issuance, it said.
At the end of 2016, the value of bonds outstanding in China reached 64.27 trillion yuan (US$9.3 trillion), Citi China said, citing financial data services provider Winds.
- 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.
