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China bond market access could buoy HK Rmb levels

September 09, 2010  

From Daniel Flatt

The mainland’s opening of the doors to its interbank bond market should help inject more renminbi into Hong Kong and offer a key indication as to what securities investors are interested in.

Offshore access to China’s interbank bond market (IBM) could offer another valuable source for pooling renminbi funds into Hong Kong, strategists at Crédit Agricole CIB believe.

At present there is thought to be about Rmb100 billion (US$146 million) swilling...


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 SYNDICATED LOANS

Rank Bookrunner Value ($m) No. %Share
1 Industrial & Commercial Bank of China - ICBC 1,160 1 16.4
1 Bank of Communications Co Ltd 1,160 1 16.4
3 State Bank of India 964 3 13.6
4 Land Bank of Taiwan 400 7 5.6
5 Maybank Investment Bank Bhd 332 1 4.7
6 AXIS Bank 236 2 3.3
7 IDBI Bank Ltd 124 1 1.8
8 HSBC 92 2 1.3
9 BNP Paribas 92 1 1.3
10 First Commercial Bank Co Ltd 65 4 0.9
Subtotal 4,623 18 65.2
Total 7,090 32 100.0


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