Bonds seen driving growth

摘要

A debut US dollar bond last week from Hong Kong-based china construction bank (ASIA) confirmed a growing shift among Chinese banks towards longer-term offshore funding. CCB Asia follows a string of similar deals from its peers and is the latest sign that China's lenders are turning to the international capital markets to fund credit growth. The US$300m deal drew a solid response from investors, despite coming amid warnings that mounting exposure to China posed risks for Hong Kong's banking sector. In a report published on the same day as CCB Asia's deal, Moody's said it expected Hong Kong subsidiaries of banks in China to grow loan exposure to PRC companies at a faster rate than the industry average.