China auto ABS motors ahead

摘要

Auto loan securitisations have continued to thrive this year in China, in contrast to the sharp decline in vanilla bond sales. Last week, SAIC-GMAC AUTOMOTIVE FINANCE completed a Rmb4bn (US$580m) print of asset-backed securities in the interbank bond market, bringing total auto ABS in the year to-date to 12, up from seven in the same period last year. New issue volumes almost tripled to Rmb42bn from Rmb14.9bn in the first five months of 2016, according to data provider Wind.