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The Dim Sum Bond Market in Hong Kong

In: Risk Management Post Financial Crisis: A Period of Monetary Easing

Author

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  • Ike Mathur
  • Soumen De

Abstract

The Dim Sum bond market in Hong Kong, which allows China to regulate the amount of offshore yuans that flow back into the mainland, has grown steadily since its inception in 2007 and is expected to surpass in 2013 the threshold level that would attract insurers and long-term issuers to the market. Yet, the market has not matured sufficiently relative to the yuan deposit market in Hong Kong that has grown at a much faster pace on account of trade liberalization and the use of yuans in China’s international trade settlements. Even though Hong Kong has fulfilled its role as an offshore currency center for the yuan, it is being challenged by Taiwan, Singapore, and London in terms of being the premier location for the issuance of yuan-denominated bonds outside of Mainland China.

Suggested Citation

  • Ike Mathur & Soumen De, 2014. "The Dim Sum Bond Market in Hong Kong," Contemporary Studies in Economic and Financial Analysis, in: Risk Management Post Financial Crisis: A Period of Monetary Easing, volume 96, pages 367-388, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-375920140000096015
    DOI: 10.1108/S1569-375920140000096015
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    Citations

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    Cited by:

    1. Chau-kiu Cheung & Andrew Yiu-tsang Low & Xuan Ning, 2019. "Marital Liberalization in Relation to Life Satisfaction," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 14(2), pages 291-307, April.
    2. Löchel, H. & Packham, N. & Walisch, F., 2016. "Determinants of the onshore and offshore Chinese government yield curves," Pacific-Basin Finance Journal, Elsevier, vol. 36(C), pages 77-93.

    More about this item

    Keywords

    Renminbi (RMB) Internationalization; Off-Shore RMB Deposit Market; Dim Sum Bond Market; Cross-Border Trade Settlement; F02; F31; F33; G15; G28;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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