Bond Market Integration: the Chinese Mainland and Hong Kong

Autor:	Man Kwong Leung, Trevor Young
Rok vydání:	2006
Předmět:	Mainland China Bond Geography Planning and Development Financial system Development Bond market index Credit rating Commerce Exchange rate Currency Political Science and International Relations Renminbi Economics Bond market
Zdroj:	Journal of Contemporary China. 15:297-309
ISSN:	1469-9400 1067-0564
DOI:	10.1080/10670560500534988
Popis:	This paper seeks to examine the integration of the evolving bond markets in the Chinese Mainland (CM) and Hong Kong (HK). To tap the international pool of capital, the CM government and CM enterprises have issued foreign currency bonds in HK and other developed markets. Since 1998 offshore CM bonds offered to the public have not been denominated in HK dollars probably because of concerns over the stability of HK's linked exchange rate and the differential credit ratings of the two economies. Even though HK has become increasingly well equipped to handle the clearing, settlement and custody of local and foreign currency bonds across its borders, it needs to continue to lobby for and attract CM government and corporate issues of foreign currency bonds (and Rmb bonds, if this were to be permitted) if it is to establish itself as a regional bond centre in Asia.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::b44f40193d8e3356c8a537781f2b7953 https://doi.org/10.1080/10670560500534988 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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