China Development Bank to sell $5.28bn in bonds

China Development Bank, a policy lender supporting state projects, has announced it intends to sell $5.28bn of debt for offshore investors to buy in bonds through the “bond connect” programme. The bonds sold will have a maturity of 1-10 years.

According to the South China Morning Post, Zhang Xuguang, vice president of China Development Bank stated: “The bond connect mechanism promotes the allocation of yuan-denominated assets by global investors, expands the offshore use of the renminbi and pushes forward the orderly opening up of China’s capital markets… the achievements are conspicuous.”

See also:

Development Bank of Singapore sees 26% profit increase to total $1.14bn

China will further open up economy past WTO commitments

Baidu, Xiaomi prepare to list in China following rule change

The ‘Bond Connect’ initiative is a mutual market access scheme allowing investors from mainland China as well as overseas to trade in each other’s bond markets, having come into effect from July 2017.

The bond sale was announced by the China Securities Journal on Sunday and global coordinators will be Bank of China, Credit Agricole and Ping An Securities.


Featured Articles

Welcome to the New Age of the CISO

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Making the UAE the world’s strongest digital fortress

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on visionary plans to build the world’s most secure digital society

World Mental Health Day – 10 apps to improve wellbeing

Employers should recognise the growing use of apps to help support mental health – here are 10 to consider on World Mental Health Day

Exec interview: Brook Sims, COO, MAC Diversity Recruiters

Leadership & Strategy

Best new books that will make you a better leader

Leadership & Strategy

5 Mins With: Jeff Li, founder and CEO of Shoplazza

Leadership & Strategy