Record redemptions for offshore yuan debt as China opens onshore door wider

Hong Kong

CHINA'S measures to steady its rocky markets are putting the future of the offshore yuan bond market at risk, prompting record redemptions from so-called dim-sum debt funds and choking new issuance.

Just a few years ago, investors were lining up to buy these offshore bonds denominated in a currency that was uniformally expected to rise, underlining the impact of its tumultuous summer on the financial infrastructure built up around the yuan.