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  • 07/12/2017

Bank of China HK Announces Three New Offshore RMB Bond Sub-Indices



Bank of China HK Announces Three New Offshore RMB Bond Sub-Indices


BY bm editor

Bank of China (Hong Kong) Limited (BOCHK) announces the launch of three new offshore RMB bond sub-indices, including the BOCHK Offshore RMB Chinese Sovereign Bond Index, the BOCHK Offshore RMB Investment Grade Bond Index and the BOCHK Offshore RMB 1 to 3 Years Central Government Bond Index.

Together with the existing BOCHK Offshore RMB Bond Index, the three sub-indices form the BOCHK Offshore RMB Bond Index Series, which reflect the rapid development of the offshore RMB bond market and enable investors to have a better understanding of the market trends.

Mr David Wong, Deputy Chief Executive of BOCHK, says: “BOCHK has set the market trend by launching the BOCHK Offshore RMB Bond Index on 31 December 2010. Since its introduction, the offshore RMB bond market has increased four fold in terms of market value. There are a growing number of institutional investors having their asset allocation into RMB bonds, thus creating the demand for a more comprehensive index to better reflect the market trends. In addition, we expect more companies of different credit strength from the Mainland and Asia to issue offshore RMB bonds in Hong Kong. The launch of the three sub-indices will further facilitate the growth and development of offshore RMB bond market, and solidify Hong Kong as the leading RMB offshore centre.”

As of 31 December 2011, the market capitalization of the BOCHK Offshore RMB Bond Index has expanded from RMB 54 billion since its launch to RMB 142 billion, and the number of constituent bonds has increased from 28 to 91. BM

 

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