The Chinese Offshore Renminbi-Denominated Bonds: Dim Sum Bonds
24 Pages Posted: 10 Jun 2012
Date Written: February 1, 2012
Abstract
China, the second largest economy in the world after the US, has started the process to internationalize its currency, the renminbi (RMB), to become a global reserve currency. To this end, the offshore market for RMB-denominated bonds (dim sum bond) market in Hong Kong has been established to promote the use of RMB in investment outside China. This market has grown rapidly to a size of over 186.8 billion yuan with 329 issues in less than five years. It is likely that this dim sum bond market will continue to grow because of China’s efforts to internationalize its currency as a national policy.
Keywords: RMB internationalization, dim sum bonds, off-shore RMB-denominated bonds
JEL Classification: F15, G15, G38
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
TBA Trading and Liquidity in the Agency MBS Market
By James I. Vickery and Joshua Wright
-
TBA Trading and Liquidity in the Agency MBS Market
By James I. Vickery and Joshua Wright
-
A Private Lender Cooperative Model for Residential Mortgage Finance
By Toni Dechario, Patricia C. Mosser, ...
-
By Tri Vi Dang, Gary B. Gorton, ...
-
Transparency and Liquidity in the Structured Product Market
By Nils Friewald, Rainer Jankowitsch, ...
-
Understanding Chinese Bond Yields and Their Role in Monetary Policy
By Nathan Porter and Nuno Cassola
-
The Influence of Fannie and Freddie on Mortgage Loan Terms
By Alex Kaufman
-
Transparency in the Financial System: Rollover Risk and Crises
By Matthieu Bouvard, Pierre Chaigneau, ...