Beijing
19 May 2017
Reporter: Drew Nicol

Asset managers tackle Chinese bond market issues


Hong Kong asset managers were invited by the People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) to an exchange this week to tackle the technical and operational issues facing the inter-bank bond market.

Delegates were invited to share their views on investing in the China inter-bank bond market (CIBM), the growing trend of renminbi internationalisation, along with other macroeconomic issues of the Mainland.

HKMA described the event as an opportunity for asset managers and owners to meet and exchange views directly with the Mainland authorities.

Participants in the exchange included representatives from over 20 leading private and public sector asset managers and owners that have fixed income operations in Hong Kong.

These institutions manage over USD 9 trillion of assets globally.

The exchange was led by Bu Yongxiang, deputy director general of PBoC Research Bureau (on behalf of Dr Ma Jun, chief economist of PBoC Research Bureau) and Vincent Lee, executive director (external) of the HKMA.

China has the world’s third largest bond market, with outstanding bond value totalling RMB 65 trillion (USD 9.4 trillion).

Mainland authorities have in recent years taken steps to open up the CIBM to international investors.

A HKMA spokesperson said: “As Asia’s premier asset management and risk management centre, Hong Kong has always been the gateway for international asset managers and owners to invest in the Mainland and manage the attendant risks.”

“Today’s exchange is another example where Hong Kong leverages its connections with, and knowledge of, both the Mainland and international markets to bring the two sides closer together.”

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