News Column

H1 China Enterprises Offshore RMB Financing to USD90bn

July 18, 2014

BEIJING, July 18, SinoCast -- China's enterprises issued about USD 55 billion bonds overseas in the first half of 2014, according to Deutsche Bank.

Plus nearly USD 90 billion large-amount renminbi-denominated certificates of deposit, total overseas financing by China's enterprises far exceeded the total last year.

The record-high renminbi financing in offshore markets were realized under the situation of rapidly devaluating renminbi, narrowing exchange difference and spread, rising bearish mood on China and rising financing costs of companies.

Since this year, including large-amount certificates of deposit, total offshore renminbi financing in Asia has exceeded CNY 270 billion, exceeding the total last year, and renminbi bond financing hit about CNY 100 billion to CNY 110 billion, said the person in charge of Deutsche Bank's global credit joint investment division for Asia.

In 2013, China's enterprises' overseas bond financing totaled about USD 75 billion.

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Source: Sinocast Banking & Credit Beat (China)

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