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TOPIC

Bonds

Bonds
Bond market action from around the world with a focus on Dim Sum debt and dollar bonds issued by Chinese firms.
Members of the media are given a preview of the Hung Shui Kiu/Ha Tsuen new development area. Photo: Elson Li
Hong Kong economy

Hung Shui Kiu industrial park operator eyes bond issuance, tax cuts for firms

Incoming chairman Jeffrey Lam outlines park’s financing and offerings, says operator will first rely on government’s HK$10 billion injection.

Yuan

How Australia’s mining giants are helping China to globalise the yuan

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China trade

Pakistan to tap China debt market with first sale of yuan-priced ‘panda bonds’

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China property

China’s bond market faces climbing re-defaults as property crisis drags on

Re-defaults erode credit differentiation as homebuyer confidence weakens under slow income growth and high leverage, analysts warn.

An abandoned Evergrande construction project is seen in Fuyang city, China’s eastern Anhui province, on April 14. Photo: AFP
Banking & finance

Hong Kong secures US$3.5 billion to fund Northern Metropolis and green projects

Global investors pile into city’s latest bond sale, with orders 7.6 times oversubscribed, backing its green finance ambitions.

Banking & finance

Chinese household appliance maker Midea seeks US$2.2b from convertible bond sale

Midea looks to tap into the debt market to fund its overseas expansion and boost offshore liquidity amid rising sentiment on the stock.

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Banking & finance

Editorial | A blooming bond market shows trust in Hong Kong dollar assets

The latest Hong Kong dollar-denominated offerings encourage more issuers from Hong Kong and overseas to explore local‑currency financing.

A view of Hong Kong International Airport in October 2025. Airport Authority Hong Kong has issued HK$19 billion in Hong Kong dollar-denominated bonds. Photo: Jelly Tse
Hong Kong Monetary Authority (HKMA)

Hong Kong, mainland China officials meet to bolster cross-border connect schemes

HKMA’s Eddie Yue, State Administration of Foreign Exchange’s Zhu Hexin discuss ways to strengthen city’s role as a global financial hub.

Hong Kong economy

Opinion | As Hong Kong recalibrates, the blue economy offers an anchor

With the Greater Bay Area as the regional ecosystem, maritime tourism, blue bonds and marine innovation are three areas of opportunity.

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Banking & finance

China opens government bond futures to select foreign investors in reform push

Qualified foreign investors can trade government bond futures, enhancing market access and boosting the yuan’s appeal amid global tensions.

China’s bond market is capitalised at more than 200 trillion yuan. Photo: Shutterstock
Stock Connect

Brazil beckoned: China now has stock and bond ‘connect’ schemes in 5 regions

Strategic financial corridors now bridge mainland bourses with global hubs, enabling more seamless investment through specialised fund vehicles and receipts.

An electronic board is seen at the Sao Paulo Stock Exchange in Brazil. Photo: AFP
Banking & finance

Hong Kong reasserts role as safe haven in global finance amid Iran conflict

The city’s safe-harbour appeal for capital and investments grows as China’s support strengthens its edge while Dubai faces pressure.

Global monetary policy

Editorial | Chinese yuan slowly but surely cutting into US dollar dominance

Kazakhstan’s issuance of yuan-denominated debt shows developing nations can use ‘panda bonds’ as stepping stones into global capital markets.

Japan

Macroscope | Will Japan’s corporate bond initiative signal a shift in Asia financing?

Japanese authorities are promoting the domestic corporate bond market as an alternative for firms seeking funding without losing control.

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A man stands in front of an electronic board displaying the closing numbers of the Nikkei Stock Average on the Tokyo Stock Exchange, in Tokyo, on April 2. Photo: AFP
Hong Kong

China set to issue US$2.3b in offshore bonds amid high demand for yuan assets

A planned sale of yuan-denominated bonds in Hong Kong, the largest since 2023, comes as investors seek shelter amid Middle East tensions.

China aims to expand dim sum bond sales in Hong Kong to deepen liquidity and support the currency’s internationalisation. Photo: Reuters
Banking & finance

Kazakh sovereign fund issues Central Asia’s first panda bond in ‘milestone’ sale

Samruk-Kazyna chairman says issuance marks ‘an important milestone in strengthening the strategic partnership between Kazakhstan and China’.

China inflation

China reflation bets waver as bond gains outpace sluggish equities

Despite a pickup in inflation data, economists warn that commodity pressures, not underlying demand, are driving China’s price gains.

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Hong Kong economy

Hong Kong seeks to raise bond issuance ceiling to HK$900 billion

Government proposes to raise borrowing ceiling from HK$700 billion to HK$900 billion to fund infrastructure development.

Development of the Northern Metropolis near the border with mainland China is a key scheme. Photo: Dickson Lee
China economy

Macroscope | Why investors should beware China safe haven narrative amid Iran crisis

While there is reason for optimism, the ceasefire in Iran remains tenuous and the return of inflation is not the kind China wants to see.

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Banking & finance

Barclays boosts Hong Kong presence to tap thriving IPO market

C.S. Venkatakrishnan said the bank is increasing its outlay on talent and technology across its investment banking and trading units.

Banking & finance

China’s JD.com returns to dim sum bond market with 10b yuan offering

The e-commerce giant is issuing the yuan-denominated notes in two tranches of 7.5 billion yuan and 2.5 billion yuan.

S&P Global Ratings has assigned an ‘A-’ long-term rating to JD.com’s notes. Photo: Reuters
Banking & finance

Exclusive | HKU kicks off roadshow for US$385 million bond to back Northern Metropolis plan

Roadshows arranged by bankers including HSBC Holdings will draw banks, insurers, pension funds and asset managers in the coming days.

The University of Hong Kong (HKU) is targeting proceeds of between HK$2 billion and HK$3 billion as part of the proposed bond deal. Photo: Dickson Lee
Banking & finance

Opinion | Why a global private-credit meltdown would hit China hard

It could leave emerging economies scrambling for financing just as their repayment obligations to Chinese lenders mount.

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Hong Kong stock market

Markets brace for rate hikes as prolonged Iran war stokes tightening fears

The European Central Bank has become more hawkish, reverting to wording that analysts say often precedes interest-rate increases.

Banking & finance

US federal debt becoming ‘alarmingly unsustainable’ as Iran war fuels spending

Washington’s rapid accumulation of sovereign debt sparks outcry, with some analysts questioning if Trump has the political will to cut the deficit.

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US sovereign debt has soared in recent years, with analysts warning that the Iran war could fuel even greater borrowing. Photo: AP
Banking & finance

HSBC launches US$2.5 billion AT1 bond issue in Hong Kong after market standstill

Lender’s AT1 bond sale is the first since Iran conflict froze the market, with Hong Kong’s stability making it the natural venue: analyst.

The offering comprises US$1.25 billion in five-year bonds at 6.75 per cent per year, and another US$1.25 billion in 10-year bonds at 7 per cent. Photo: Elson Li
China stock market

Trump’s Fed pick Warsh stokes uncertainty as investors weigh his policy shifts

US Treasuries have been falling recently, partially reflecting investor concerns that Warsh’s succession will slow rate reductions.

Education in Hong Kong

Hong Kong Baptist University may issue bonds to finance development

University president says funds needed to support its Chinese medicine hospital and campus redevelopment.

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