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April 18, 2017

In Asia (ex-Japan), debt capital markets issuance has shrunk 23% year-on-year, in contrast to increases seen across the Americas (9%) and EMEA (2%). While Chinese onshore bonds have led the decline in regional volume, Chinese international issuance has never been stronger – climbing to a year-to-date high of $68bn so far this year and almost five times the amount issued in 2016 YTD. In fact, according to Dealogic figures, issuance on April 11 was the single highest day for international bond issuance from China this year.

Louis Ng looks at why international markets continue to attract Chinese issuers, and whether this upward trend is likely to continue.