Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

IBF-STS
8 CACS CPD Hours

15 November 2022 (Tuesday) | 9am-5pm

Reports suggest that Chinese authorities are likely to loosen controls for its real estate companies to issue local-currency notes as part of efforts to prevent a further deterioration in their financing, as per The Securities Times. While the news is thin on details, it said that the easing will focus on the interbank bond market, which has seen issuance from developers fall in the past year. Some analysts say that the easing in rules may help boost the sentiment in higher-quality/investment grade developers whose bonds were also hit earlier this week. Most dollar bonds of Chinese property developers across the board saw a price uptick yesterday on the back of the easing news. IG-rated COGARD and Shimao’s dollar bonds were up over 7% yesterday.  “It’s the first meeting sending an easing message on debt issuance since the three red lines rule rolled out last year… It has great implications because so far the marginal credit easing has only been seen on bank loans”, said Yan Yuejin, research director at Shanghai-based E-house China Research and Development Institute.

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