China's Dagong pushes Silk Road bonds

摘要

Chinese rating agency dagong is backing a proposal to introduce a new class of renminbi-denominated "Silk Road Bonds" to finance infrastructure investments along the strategic trading link. Dagong Chairman Guan Jianzhong outlined his vision at a conference in Hong Kong last week for a cross-border financing instrument that would drive economic development and unite the capital markets along the Belt and Road, a network covering as many as 65 individual countries. Silk Road bonds should be freely traded on stock exchanges and a dedicated internet platform, have their own settlement system and come with internationally comparable credit ratings, Guan said.