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China is to return to the annual issuance of offshore bond market scale is expected to exceed last y-unfccc

China is to return to the annual issuance of offshore bond market is expected to exceed the size of the fund last year Sina exposure table: the letter Phi lag of false propaganda, long-term performance is lower than similar products, to buy the fund by the pit how to do? Click [I want to complain], Sina help you expose them! Newspaper reporter Zheng Qingting Beijing reported that in the first half of 2016, Chinese companies in the onshore bonds rose 200%, while the size of offshore bonds fell by more than 20%." Societe Generale Asia Pacific debt capital markets director Mo Lehan (Laurent Morel) in September 8th, the media Roundtable said. Two years ago, China enterprises set off a borrowing binge in the international bond market. Mo Lehan pointed out that, in this wave of enthusiasm, there are two types of enterprises: one is the lead by domestic hot property market driven real estate business, two is a large state-owned enterprises in overseas acquisitions by CNPC and Sinopec as the representative of the. However, since last summer, the Chinese funded enterprises issued to fall, there are two main reasons: the first is the devaluation of the renminbi, the domestic enterprises in the domestic financing more motivated, overseas bonds will decline; second is the oil and gas, minerals, metals and other commodity prices, large state-owned enterprises in the overseas large-scale mergers and acquisitions cases also significantly reduced. However, Mo Lehan stressed that offshore bond market is to regain Chinese enterprise favor. "In the past three months, China enterprises offshore issuance trading volume increased significantly, as of the end of August, only 7% lower than a year ago, we are confident that Chinese enterprises this year will exceed the scale of offshore issuance last year." This is mainly due to the European market quantitative easing policies affect the issuance of 1 billion 800 million high-yield U.S. debt in 7-8 months. Chinese companies in the United States and foreign debt issued by the euro debt, can get funding at a lower cost of financing. In the first half, China’s real estate companies basically suspended overseas bonds, but after July is not the same, about 20 Chinese real estate companies in overseas bonds, spreads further compression." Mo Lehan said. By issuing bonds to refinance, Chinese companies can extend the repayment period and save interest payments. For example, the end of August, Xinyuan Real Estate Holdings Limited issued $300 million of bonds due in 2019, the annual interest rate is 8.125%, the money will be used to repay maturing in 2018, the annual interest rate is 13.25% of the debt. From the point of view of scale, Chinese enterprises in overseas bonds issued, 85% is the U.S. dollar debt, 6%-8% is the euro debt, the size of the RMB debt is relatively small, and most of the short-term products. According to Thomson Reuters, Chinese enterprises issued 1 billion 800 million high income of $two in debt before the third quarter, more than $1 billion 200 million in the first quarter and the second quarter of $1 billion 400 million. This year, Chinese companies have issued $48 billion 300 million in debt, compared to $67 billion 700 million last year. In the context of the global economic downturn, why do Chinese companies still maintain strong momentum overseas bonds? Mo Lehan believes that most bonds in overseas financial institutions Chinese, especially the policy banks and commercial banks. With their international expansion, the Bank of China, industrial and Commercial Bank of China and other banks around the world to establish branches, the need for相关的主题文章: