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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.
A staff member works at a Midea Group microwave oven factory in Foshan, Guangdong province. Photo: Xinhua
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.

Banking & finance

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

Hong Kong Monetary Authority (HKMA)

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

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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The CM Hong Kong docking in Tsing Yi in 2025. Hong Kong completed its first green methanol bunkering operation in March 2026, supplying biomethanol and fossil methanol to the ship. Photo: Dickson Lee
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.

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.

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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.

Helping boost Hong Kong are a pegged exchange rate, free capital flows and support from China’s economic strength. Photo: Jelly Tse
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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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’.

By the middle of last month, 78 billion yuan of panda bonds had been issued this year. Photo: Shutterstock
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.

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.

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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An oil tanker unloads crude oil at the port in Qingdao, in eastern Shandong province, on April 7. Photo: AFP
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.

Asia and Hong Kong are very important areas for Barclays, according to group CEO C. S. Venkatakrishnan. Photo: Edmond So
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.

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.

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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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People wait to cross a road in Beijing on March 6. A private-credit crisis could prompt a wave of restructuring of loans due to China, complicating its efforts to counter a structural downturn. Photo: AFP
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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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.

Former US Federal Reserve Governor Kevin Warsh speaks during a monetary policy conference at Stanford University’s Hoover Institution in Palo Alto, California, May 9, 2025. Photo: Reuters
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.

Banking & finance

How China’s sovereign debt is becoming a real alternative to US Treasuries

Beijing is now offering dollar-denominated sovereign bonds at rates matching equivalent US Treasuries – and investors are snapping them up.

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Hong Kong stock market

Oil surge stokes inflation fears as Middle East flashpoint rattles markets

Rising oil prices are shaking global markets as investors rethink rate-cut bets and brace for slower growth and renewed inflation.

The spike in energy costs has revived fears of a renewed bout of inflation, raising the risk of slower global growth. Photo: AFP
Banking & finance

Why China’s rise as a ‘financial superpower’ could depend on Hong Kong

From the yuan’s growth as a global currency to IPO funding to tokenisation, the city is a linchpin in Beijing’s ambitions.

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Illustration: Lau Ka-kuen
China's economic recovery

As Chinese provinces slash revenue outlook, analysts warn of debt control

Local governments seen curbing infrastructure spending as Beijing’s fiscal discipline pushes regions to prioritise social services and tech over large projects.

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Hong Kong economy

West Kowloon arts hub seeks US$1 billion in first bond sale to fund operations

Loss-making authority edges closer to bond offering to help sustain operations amid continuing deficits.

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