By Richard Mazzochi, Minny Siu, Jack Wang, Molly Su,  Jia Zhihang, Jessie Ng and Xi Suodi. King & Wood Mallesons

Introduction

After MSCI’s recent announcement on the inclusion of China A-Shares in its Emerging Markets Index and other major global indexes, the inaugurated launch of the long-awaited Bond Connect scheme today marks another significant breakthrough in China’s capital market development, coinciding with the celebration of the twentieth anniversary of the formal establishment of the Hong Kong Special Administrative Region. Continue Reading From Stock Connect to Bond Connect – The first northbound trade under Bond Connect launches today

By King & Wood Mallesons

King & Wood Mallesons (KWM) has advised  Xinhu (BVI) Holding Company Limited as its US and PRC counsel on its US$700 million 6.00% guaranteed senior notes issuance due 2020, which is guaranteed by Xinhu Zhongbao Co., Ltd (Xinhu Zhongbao). The transaction marks the largest initial issuance of a high yield bond by a PRC company since January 2013, according to the Bloomberg database. Continue Reading King & Wood Mallesons advises Xinhu Zhongbao on China’s first and largest high yield bond issuance since January 2013

By Stanley Zhou Minny Siu Janet Gu King & Wood Mallesons

CZhou_Xinhminnyina’s bond market is the world’s third largest bond market in the world in terms of trading volume. China has two main bond markets: the inter-bank bond market (“Inter-bank Bond Market”), which is primarily regulated by the People’s Bank of China (“PBOC”) and an exchange-based bond market (“Exchange Bond Market”), which is primarily regulated by the China Securities Regulatory Commission. The Inter-bank Bond Market accounts for almost 95% of the total trading volume in China’s bond market. This regulatory update will review at how efforts have been made in the past to gradually open up the Inter-bank Bond Market to foreign investors, as well as some of the latest development in this market.

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