The Dim Sum Bond Market in Hong Kong

Ike Mathur and Soumen De

A chapter in Risk Management Post Financial Crisis: A Period of Monetary Easing, 2014, vol. 96, pp 367-388 from Emerald Group Publishing Limited

Abstract: The Dim Sum bond market in Hong Kong, which allows China to regulate the amount of offshore yuans that flow back into the mainland, has grown steadily since its inception in 2007 and is expected to surpass in 2013 the threshold level that would attract insurers and long-term issuers to the market. Yet, the market has not matured sufficiently relative to the yuan deposit market in Hong Kong that has grown at a much faster pace on account of trade liberalization and the use of yuans in China’s international trade settlements. Even though Hong Kong has fulfilled its role as an offshore currency center for the yuan, it is being challenged by Taiwan, Singapore, and London in terms of being the premier location for the issuance of yuan-denominated bonds outside of Mainland China.

Keywords: Renminbi (RMB) Internationalization; Off-Shore RMB Deposit Market; Dim Sum Bond Market; Cross-Border Trade Settlement; F02; F31; F33; G15; G28 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eme:csefzz:s1569-375920140000096015

DOI: 10.1108/S1569-375920140000096015

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