Dim sum bond

Vanke issues 1 billion yuan dim sum bond

China Vanke is one of China’s few investment-grade property developers. Photo: Sandy Li

China Vanke, one of China’s few investment-grade property developers, issued a 1 billion yuan (HK$1.26 billion) dim sum bond on Wednesday night, according to a term sheet seen by the South China Morning Post.

Thursday, 28 November, 2013, 2:11pm

Road King issues 2.2 billion yuan dim sum bond

Road King develops property and owns toll roads on the mainland. Photo: SCMP Pictures

Road King Infrastructure has priced a 2.2 billion yuan (HK$2.8 billion) dim sum bond. The three-year bond has a yield of 6 per cent.

The issuer develops property and owns toll roads on the mainland. It is rated B1 by Moody’s and BB- by Standard & Poor’s.

27 Nov 2013 - 11:56am

HSBC, Standard Chartered sell yuan bonds in Singapore

China has eased controls on the yuan to gradually increase the global use of the currency, which has risen to a record high. Photo: Xinhua

HSBC Holdings and Standard Chartered sold 1.5 billion yuan (HK$1.9 billion) worth of notes in Singapore yesterday in the first dim sum bond issuances since yuan-clearing became available in the city state.

28 May 2013 - 3:05am

Yield demand deters dim sum debt issuers

Many companies are keeping their yuan for trade settlement.

The cost of funding the so-called dim sum bonds has risen as the swap rates between the yuan and the US dollar are at record lows, tempering the pace of investment-grade corporate bond issues by foreign issuers, industry experts said at a forum yesterday.

9 May 2013 - 5:15am

Bond issue talk buoys I.T. despite profit slide

I.T chairman Sham Kar-wai says the retailer will rely less on discounts this year. Photo: K. Y. Cheng

Shares of fashion retailer I.T rose to a two-month high of HK$3.20 yesterday despite an 18 per cent drop in net profit following news that it will issue a dim sum bond.

4 May 2013 - 4:56am

Exchange Fund looks to yuan, emerging markets

Monetary Authority chief executive Norman Chan says the authority will negotiate with the mainland for higher investment quotas. Photo: Edward Wong

The city's Exchange Fund, which had its second-best investment gain on record in 2012, will invest more in yuan-denominated bonds and shares this year.

15 Jan 2013 - 5:42am

Dim sum debt leapfrogs rivals to be best in Asia

Corporate yuan securities rose 6.2 per cent in 2012. Photo: Bloomberg

Dim sum bonds were transformed into the best local-currency company notes in Asia this year from the worst in 2011, and are among the top picks of Western Asset Management as China's economy rebounds.

28 Dec 2012 - 4:14am

HSBC: dim sum debt sales could reach HK$448bn in 2013

Sales of dim sum debt may reach 360 billion yuan (HK$448 billion) next year as China's new leaders encourage use of the yuan in financial centres from London to Taipei, HSBC predicts.

19 Dec 2012 - 2:37am

Global demand for yuan on the rise

HKMA chief Norman Chan says Hong Kong banks should develop their yuan business with other offshore centres. Photo: K.Y. Cheng

Beijing's efforts to promote the yuan by developing the offshore yuan business are well supported by increasing trade settlement with the rest of the world in the currency, officials and industry experts said yesterday.

1 Dec 2012 - 4:31am

Dim sum bond sales double as new elite back global yuan

Advertisments for Renminbi bonds hang outside the Bank of China Tower in Hong Kong. Photo: Bloomberg

Dim sum bond sales by Chinese borrowers surged to a four-month high in November as the country’s new political elite signalled a commitment to making the yuan a global currency.

30 Nov 2012 - 4:32pm

Tough tasks await next PBOC head

The next governor of the People's Bank of China is expected to implement a number of radical financial reforms. Photo: Reuters

The next governor of the People's Bank of China is likely to have got there by first becoming the head of one of the country's big state-owned lenders. His initial task? To curb the power of those very banks.

30 Nov 2012 - 3:35am

More exports can be in yuan, says economist

Starting from almost zero in 2009, the proportion of mainland external trades transacted in yuan grew to around 10 per cent last year.

The mainland has plenty of room to grow the proportion of its external trade settled in yuan rather than foreign currencies, which will bring more opportunities for Hong Kong's trade financiers despite growing competition from other offshore yuan trading centres, according to an economist.

13 Nov 2012 - 3:53am

BOC branches into private banking

Jason Yeung and Wendy Tsang say a strong branch network and mainland connection will help the bank's new business. Photo: Sam Tsang

While investment banks across the town are laying off staff, Bank of China (Hong Kong) is on a hiring spree for its newly launched private banking business.

The lender, one of the largest retail banks in the city, yesterday announced the launch of private banking services for customers with at least US$2 million to invest.

8 Nov 2012 - 2:22am

China returns a big lure for investors

Interest in converting savings into yuan comes as the mainland currency strengthened to new highs in recent weeks. Photo: Edward Wong

Sellers of trust and wealth-management products on the mainland say there has been a rise in interest in their offerings from offshore buyers, including Hong Kong residents, especially after the yuan strengthened to new highs in recent weeks.

7 Nov 2012 - 3:36am

CSRC approves more issues of dim sum bonds in Hong Kong

The first issue of yuan-denominated bonds was launched in Hong Kong in July 2007.

Mainland regulators have approved four more companies to issue yuan-denominated dim sum bonds in Hong Kong, a fresh boost to the city's status as the No 1 offshore yuan trading centre.

6 Nov 2012 - 4:53am