BEIJING, Sept. 3 (Xinhua) – China's interbank bond market hailed the first two foreign-funded banks joining the team of class-A lead underwriters Monday.
The National Association of Financial Market Institutional Investors (NAFMII) announced late on Monday it approved Deutsche Bank China Co., Ltd. and BNP Paribas (China) Limited to participate in lead underwriting business of non-financial enterprise debt financing tools.
Earlier on August 21, NAFMII kicked off market appraisal work of foreign-funded banks to participate the afore-mentioned class-A lead underwriting business after Chinese regulator released 11 measures for further opening financial industry.
A director from BNP Paribas (China) Limited believes that underwriting business of non-financial enterprises bonds is likely to grow rapidly in future, yet foreign-funded banks need to expand more Chinese enterprise clients and seize opportunities in market transformation.
Currently, foreign-funded banks have relatively rich experience regarding bond-related business in China.
Analysts said that China's primary bond market is expected to embrace further development alongside foreign-funded banks' participation and improving transparency of information on newly-issued bonds.
In the future, long-term investment of foreign-funded institutions is further expectable with implementations of measures on extending trading time for foreign-funded institutions, optimizing trading infrastructure optimization, improving market making ability, developing rating market and diversifying derivatives, analysts added. (Edited by Duan Jing, duanjing@xinhua.org)
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