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China's interbank bond market opens further to foreign-funded banks

August 26, 2019


Abstract : China's interbank bond market is opening further to foreign-funded banks (FFBs) as appraisal standards for FFBs to participate in A-class lead underwriting business of non-financial corporate bonds were released recently.

BEIJING, Aug. 26 (Xinhua) – China's interbank bond market is opening further to foreign-funded banks (FFBs) as appraisal standards for FFBs to participate in A-class lead underwriting business of non-financial corporate bonds were released recently.

China’s OTC financial market self-regulatory organization - National Association of Financial Market Institutional Investors (NAFMII) kicked off recently appraisal work for FFBs taking part in A-class lead underwriting business of non-financial corporate bonds and publicized at the same time detailed rating standards.

These meant that the 41 Chinese financial institutions already obtaining the A-class lead underwriting licenses of the type in China will meet competition from FFBs in future.

The appraisal standards are customized ones for FFBs in view of their relatively small business sizes in China and very large business sizes of their parent banks outside China.

Industry insiders held that compared with Chinese banks which boast relatively explicit advantages in client coverage, credit line quotas and underwriting rules, FFBs generally have low appetite for risk and strict standards on client selection, and need to get further knowledge about local market. (Edited by Duan Jing, duanjing@xinhua.org)

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Keyword: bond foreign-funded banks

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