Record redemptions for offshore yuan debt as China opens onshore door wider
Net outflows from dim-sum funds total US$800m in August and September, the biggest two-month loss on record
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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.
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