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Opinion: China right to take slow road on futures

March 10, 2010  

From Pamela Tang

Trading in stock index futures is set to start next month in China after years of preparation. Investors say the minimum deposit of Rmb500,000 is too onerous, but the regulator’s push for a high entry barrier is the right one.

After years of waiting for China to launch its first stock index future, some commentators are already predicting muted demand for them. While likely to be true initially, that’s not actually a bad thing at all.

Domestic and foreign...


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OFFSHORE RENMINBI DCM

Rank Bookrunner Value ($m) No. %Share
1 HSBC 2,717 31 19.6
2 Standard Chartered Bank 1,889 26 13.6
3 Bank of China Ltd 1,561 17 11.2
4 Deutsche Bank 893 13 6.4
5 Industrial & Commercial Bank of China - ICBC 827 12 6.0
6 Agricultural Bank of China Ltd 607 7 4.4
7 Goldman Sachs 570 8 4.1
8 Citi 569 8 4.1
9 China International Capital Corp Ltd 461 5 3.3
10 DBS 442 9 3.2
Subtotal 10,534 72 75.9
Total 13,886 81 100.0

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