S'pore investors drooling over dim sum bonds
Their participation rate in offshore CNY deals this year hits 35-59%
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Singapore
SINGAPORE investors are diving enthusiastically into dim sum bonds, a rapidly expanding asset class driven by the Chinese government intent on internationalising its currency.
Year-to-date, dim sum bonds - offshore Chinese yuan (CNY) debt issuances - have reached 357 billion yuan (S$74 billion) from 784 deals. This has exceeded the volume for the whole of 2013 by almost 30 per cent, according to Bloomberg.
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