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PRC's dim sum bonds need to develop a new flavor

The offshore renminbi bond market has boomed since the People’s Republic of China (PRC) authorities first allowed domestic banks to issue them in Hong Kong, China in June 2007. But appetite for the paper—popularly known as “dim sum bonds”—is starting to wane as access to onshore markets becomes easier. To stay relevant, the dim sum market must develop further.

Thiam Hee Ng

Renminbi stepping in right direction toward internationalization

The PRC may be a globally significant economic and trading power, but the market share of its currency, the renminbi (RMB), lags well behind the US dollar and the euro. To align the RMB with its growing global stature, the PRC has embarked on a strategy to internationalize the currency. Typically, it is taking a gradual approach. 

Thierry de Longuemar

Spread between the 1-year AAA and BBB+ corporate bond yields in PRC. View <a href="/sites/default/files/chaori-chart.png">chart</a> in full.

Chinese bond default – What does it mean for Asia's bond market development?

Last Friday, 7 March, 2014, Shanghai Chaori Solar Energy Science and Technology Co Ltd defaulted on its 1 billion yuan ’Chaori-11 bond‘ when it failed to pay in full the coupon due that day. The default should not have taken investors by surprise as the company has been struggling over the past few years due to general weakness in the solar panel market.

Thiam Hee Ng

A view of smog, haze in the city’s skyline in People’s Republic of China.

Pollute First, Clean Up Later: Could We Avoid this Development Model?

Resource depletion and environmental pollution are serious issues in developing Asia. This was well illustrated in January of this year when northern People’s Republic of China (PRC) suffered its worst air pollution on record. The level of pollution moved many to question the old development model of “pollute first, improve later”. 

Aiming Zhou

Aging: A Threat to People’s Republic of China’s Growth

Aging can adversely affect economic performance, demanding changes in social and economic policies to address the challenge. While the best-known dimension of aging relates to fiscal sustainability due to spiraling health care and pension costs, the repercussions are wider. More worryingly, aging will ultimately constrain economic growth because labor supply shortages result in lower GDP growth in the absence of increases in total factor productivity.

Yolanda Fernandez Lommen

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