China’s developing corporate bond market is set to undergo perhaps the sternest test yet of its depth and sophistication. The volume of deals priced so far this year testifies to the immense demand for cash, as the economy slows and banks face pressure to lend to state infrastructure projects. According to figures from Dealogic, nine of the top 20 debt deals by size in Asia (excluding Japan) this year have come from China, as opposed to just two in the corresponding period last year.
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