S'pore investors drooling over dim sum bonds

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.