Comment

Latest comment

  • Shenzhen stock move step in right direction for China

    Shenzhen stock move step in right direction for China

    Chinese regulators have made a long overdue move to reduce the number of boards at the Shenzhen stock exchange. That points to a greater commitment towards streamlining the country’s sometimes confounding capital markets.

  • China bonds: transparency push a clear win

    China bonds: transparency push a clear win

    The Shanghai Clearing House’s decision to give bond issuers insight into the holders of their debt is a smart move. China has enough regulation; what it lacks is information.

  • China Reits are not for all

    China Reits are not for all

    China has taken a long-awaited step towards opening its real estate investment trust (Reit) market, publishing rules for a pilot programme. The regulators are understandably starting small, but the guidelines don’t do enough for companies that need to list Reits the most.

  • China bond investors deserve better treatment

    China bond investors deserve better treatment

    Do investors matter in China’s bond market? Not much, judging by a recent series of bondholder meetings. HNA Group Co and Gemdale are the latest companies to push their luck. It is time for regulators to push back.

  • China ABS: BMW will not be overtaken

    China ABS: BMW will not be overtaken

    BMW sold an ultra-cheap auto loan securitization in China last week, giving a clear demonstration of investor appetite for highly-rated credits despite the coronavirus epidemic. But other auto financing companies (AFCs) should be realistic about their chances of repeating this success, as liquidity is drying up quickly.

  • China needs to get going on TLAC bonds

    China needs to get going on TLAC bonds

    Crédit Agricole bagged a total loss-absorbing capacity eligible senior preferred Panda bond in China last week — the first of its kind onshore. But the confusion it created shines a light on a market that is still in dire need of education around these new structures. With Chinese banks set to come under pressure soon to issue their own TLAC-eligible bonds onshore, rapid change is needed before time runs out.

more comment