Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    Offshore bond issuances by Chinese firms rebound

    By OUYANG SHIJIA | China Daily | Updated: 2020-08-18 07:46
    Share
    Share - WeChat

    New offshore bond issuances by Chinese companies rebounded in June and July, as the nation's efficient COVID-19 pandemic prevention and control measures boosted foreign investors' confidence in the Chinese economy and corporations, the country's top economic regulator said on Monday.

    During the June-July period, 84 Chinese enterprises issued 125 medium-and long-term bonds in overseas markets, with a total value of $45.92 billion, said Meng Wei, a spokeswoman for the National Development and Reform Commission, at a news conference in Beijing.

    Among them, industrial enterprises issued $12.33 billion in bonds, up 30 percent year-on-year, while real estate companies saw a 24 percent year-on-year decline with a total value of $12.4 billion.

    Bonds issued by financial companies jumped 25 percent to $14.28 billion, and the money raised was mainly used to support the real economy.

    "The rebound in offshore corporate bond issuances in June and July is mainly because China has achieved positive results in its prevention and control efforts in fighting the novel coronavirus outbreak. With the orderly resumption of work and production as well as the restored economic order, foreign capital's confidence in the Chinese economy and corporations continues to increase," Meng added.

    Continuous quantitative easing practices in major advanced economies, an overall inflow toward emerging markets and safe haven demand amid global economic turbulence also helped boost the rebound in issuances, Meng said.

    In the first half of the year, 164 Chinese enterprises issued 264 medium-and long-term bonds overseas, with a total value of $103.31 billion, Meng said.

    Meng added that although the total value declined year-on-year due to the turmoil in the international capital market, the bonds have shown strong resilience with their role in serving the real economy becoming more prominent.

    "Particularly, the China-issued dollar bond market is showing strong signs of recovery since the second quarter of this year," Meng said.

    By the end of June, the China-issued dollar bond index hit a record high of 201.85 points, up by 6.21 percent year-on-year. Market analysis showed that Chinese enterprises issued overseas medium-and long-term bonds at a weighted average rate of 4.94 percent in the first half of this year, a year-on-year rate decline of 1.3 percentage points.

    Experts say that the signs of a rebound offer bond investors good opportunities as many Chinese enterprises gradually recover from the novel coronavirus crisis.

    "With the government's effective measures to contain the pandemic, China's economy is gradually returning to normal, showing strong resilience," said Sun Binbin, an analyst at TF Securities. "With ample liquidity in the global market and China's economic resurgence, the China-issued dollar bond market will continue to recover in the second half of this year."

    After experiencing a sharp decline in March, the current valuation of real estate bonds has been restored to a certain extent, Sun said. "Due to the lower US interest rates, dollar bonds issued by Chinese real estate firms still remain highly attractive for investors."

    Hua Changchun, global chief economist at Guotai Jun'an Securities Research Institute, said China is rebounding to growth after a steep slump from the pandemic, adding that China's GDP growth may reach 6.3 percent in the third quarter and 7 percent in the fourth quarter.

    "Policymakers need to strike a balance between a frail economy and the relatively red-hot capital and financial markets," Hua said. "On one hand, the government needs to rev up fiscal, monetary and financial support for the real economy and micro and small enterprises. On the other, the country should also reinforce financial supervision and prevent financial risks."

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    亚洲av无码专区在线观看下载| 日韩乱码人妻无码中文视频| 欧美精品丝袜久久久中文字幕| 国产50部艳色禁片无码| 狠狠精品久久久无码中文字幕| 成人免费无码H在线观看不卡| 精品久久久无码21p发布 | 国产成人无码AⅤ片在线观看| 无码不卡亚洲成?人片| 人妻丰满熟妇av无码区不卡| 成人无码区免费A片视频WWW| 精品人妻va出轨中文字幕| 无码人妻久久一区二区三区蜜桃 | 中文字幕亚洲图片| 日本公妇在线观看中文版| 国产乱子伦精品无码专区| 国产乱子伦精品无码码专区| 自慰无码一区二区三区| 中文字幕日韩精品在线| 亚洲AV无码成人网站久久精品大| 亚洲中文字幕第一页在线| 亚洲一区二区三区无码影院| 国产精品va在线观看无码| 久久久久久久久无码精品亚洲日韩 | 亚洲国产中文v高清在线观看 | 婷婷五月六月激情综合色中文字幕 | 婷婷中文娱乐网开心| 人妻少妇久久中文字幕一区二区 | 亚洲伊人成无码综合网| 无码人妻久久一区二区三区蜜桃| 国产成人无码精品久久久免费| 久久精品无码专区免费东京热 | 久久精品国产亚洲AV无码娇色 | av无码久久久久不卡免费网站| 免费看又黄又无码的网站| 久久久久无码精品国产| 国产精品无码v在线观看| 国产激情无码一区二区三区| 亚洲日韩VA无码中文字幕| 亚洲VA中文字幕不卡无码| 日韩亚洲欧美中文高清|