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TOPIC

Bonds

Bonds
Bond market action from around the world with a focus on Dim Sum debt and dollar bonds issued by Chinese firms.
The talks likely covered boosting the bond markets, expanding the wealth connect scheme, enhancing Hong Kong’s role as a yuan trading hub, and aligning with the country’s next five-year plan, according to analysts.Photo: Sam Tsang
Hong Kong Monetary Authority (HKMA)

Hong Kong, mainland China officials meet to bolster cross-border connect schemes

HKMA’s Eddie Yue, State Administration of Foreign Exchange’s Zhu Hexin discuss ways to strengthen city’s role as a global financial hub.

Hong Kong economy

Opinion | As Hong Kong recalibrates, the blue economy offers an anchor

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Banking & finance

China opens government bond futures to select foreign investors in reform push

Stock Connect

Brazil beckoned: China now has stock and bond ‘connect’ schemes in 5 regions

Strategic financial corridors now bridge mainland bourses with global hubs, enabling more seamless investment through specialised fund vehicles and receipts.

An electronic board is seen at the Sao Paulo Stock Exchange in Brazil. Photo: AFP
Banking & finance

Hong Kong reasserts role as safe haven in global finance amid Iran conflict

The city’s safe-harbour appeal for capital and investments grows as China’s support strengthens its edge while Dubai faces pressure.

Global monetary policy

Editorial | Chinese yuan slowly but surely cutting into US dollar dominance

Kazakhstan’s issuance of yuan-denominated debt shows developing nations can use ‘panda bonds’ as stepping stones into global capital markets.

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Japan

Macroscope | Will Japan’s corporate bond initiative signal a shift in Asia financing?

Japanese authorities are promoting the domestic corporate bond market as an alternative for firms seeking funding without losing control.

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A man stands in front of an electronic board displaying the closing numbers of the Nikkei Stock Average on the Tokyo Stock Exchange, in Tokyo, on April 2. Photo: AFP
Hong Kong

China set to issue US$2.3b in offshore bonds amid high demand for yuan assets

A planned sale of yuan-denominated bonds in Hong Kong, the largest since 2023, comes as investors seek shelter amid Middle East tensions.

Banking & finance

Kazakh sovereign fund issues Central Asia’s first panda bond in ‘milestone’ sale

Samruk-Kazyna chairman says issuance marks ‘an important milestone in strengthening the strategic partnership between Kazakhstan and China’.

China inflation

China reflation bets waver as bond gains outpace sluggish equities

Despite a pickup in inflation data, economists warn that commodity pressures, not underlying demand, are driving China’s price gains.

The oil shock has clouded the inflation outlook, making it difficult to determine whether China had truly emerged from its multi-year deflationary phase. Photo: Xinhua
Hong Kong economy

Hong Kong seeks to raise bond issuance ceiling to HK$900 billion

Government proposes to raise borrowing ceiling from HK$700 billion to HK$900 billion to fund infrastructure development.

Development of the Northern Metropolis near the border with mainland China is a key scheme. Photo: Dickson Lee
China economy

Macroscope | Why investors should beware China safe haven narrative amid Iran crisis

While there is reason for optimism, the ceasefire in Iran remains tenuous and the return of inflation is not the kind China wants to see.

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Banking & finance

Barclays boosts Hong Kong presence to tap thriving IPO market

C.S. Venkatakrishnan said the bank is increasing its outlay on talent and technology across its investment banking and trading units.

Banking & finance

China’s JD.com returns to dim sum bond market with 10b yuan offering

The e-commerce giant is issuing the yuan-denominated notes in two tranches of 7.5 billion yuan and 2.5 billion yuan.

S&P Global Ratings has assigned an ‘A-’ long-term rating to JD.com’s notes. Photo: Reuters
Banking & finance

Exclusive | HKU kicks off roadshow for US$385 million bond to back Northern Metropolis plan

Roadshows arranged by bankers including HSBC Holdings will draw banks, insurers, pension funds and asset managers in the coming days.

The University of Hong Kong (HKU) is targeting proceeds of between HK$2 billion and HK$3 billion as part of the proposed bond deal. Photo: Dickson Lee
Banking & finance

Opinion | Why a global private-credit meltdown would hit China hard

It could leave emerging economies scrambling for financing just as their repayment obligations to Chinese lenders mount.

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Hong Kong stock market

Markets brace for rate hikes as prolonged Iran war stokes tightening fears

The European Central Bank has become more hawkish, reverting to wording that analysts say often precedes interest-rate increases.

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Banking & finance

US federal debt becoming ‘alarmingly unsustainable’ as Iran war fuels spending

Washington’s rapid accumulation of sovereign debt sparks outcry, with some analysts questioning if Trump has the political will to cut the deficit.

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US sovereign debt has soared in recent years, with analysts warning that the Iran war could fuel even greater borrowing. Photo: AP
Banking & finance

HSBC launches US$2.5 billion AT1 bond issue in Hong Kong after market standstill

Lender’s AT1 bond sale is the first since Iran conflict froze the market, with Hong Kong’s stability making it the natural venue: analyst.

China stock market

Trump’s Fed pick Warsh stokes uncertainty as investors weigh his policy shifts

US Treasuries have been falling recently, partially reflecting investor concerns that Warsh’s succession will slow rate reductions.

Education in Hong Kong

Hong Kong Baptist University may issue bonds to finance development

University president says funds needed to support its Chinese medicine hospital and campus redevelopment.

Baptist University’s campus in Kowloon Tong is the smallest of the city’s public varsities. Photo: Nora Tam
Banking & finance

How China’s sovereign debt is becoming a real alternative to US Treasuries

Beijing is now offering dollar-denominated sovereign bonds at rates matching equivalent US Treasuries – and investors are snapping them up.

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China’s sovereign debt is attracting more demand from investors as confidence wavers in the United States. Photo: AFP
Hong Kong stock market

Oil surge stokes inflation fears as Middle East flashpoint rattles markets

Rising oil prices are shaking global markets as investors rethink rate-cut bets and brace for slower growth and renewed inflation.

Banking & finance

Why China’s rise as a ‘financial superpower’ could depend on Hong Kong

From the yuan’s growth as a global currency to IPO funding to tokenisation, the city is a linchpin in Beijing’s ambitions.

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China's economic recovery

As Chinese provinces slash revenue outlook, analysts warn of debt control

Local governments seen curbing infrastructure spending as Beijing’s fiscal discipline pushes regions to prioritise social services and tech over large projects.

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An unfinished construction project is seen in China’s Anhui province. A number of local-level governments that lent to certain real estate and infrastructure projects have had trouble getting paid back amid a property slowdown. Photo: Getty Images
Hong Kong economy

West Kowloon arts hub seeks US$1 billion in first bond sale to fund operations

Loss-making authority edges closer to bond offering to help sustain operations amid continuing deficits.

The authority that manages Hong Kong’s West Kowloon arts hub is preparing to offer bonds for the first time. Photo: Sam Tsang
Mainland China

Yuan rally puts fresh steam into Hong Kong’s dim sum bond revival

Issuance could approach US$140 billion as a firmer renminbi, low funding costs and policy support boost demand for offshore notes.

Banking & finance

Hong Kong firms rush to issue convertibles – and trend could continue: bankers

Issuers raised US$7.4 billion in convertibles in early 2026, nearly half of last year’s total, as they rushed to lock in high share prices.

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