Zhou Xiaochuan, governor of the People’s Bank of China, answers questions at a press conference on the financial reform and development on the sidelines of the fourth session of the 12th National People’s Congress in Beijing, capital of China, March 12, 2016.[Photo/Xinhua]
From a mid-term perspective, the dim sum bonds would have a nice future, China’s central bank governor Zhou Xiaochuan said on March 12.
Dim sum bonds are issued out of China but denominated in the Chinese yuan. Some argued that such bonds started to lose appeal in recent months.
It was due to fluctuations of the yuan’s value against the US dollar, and that would be temporary, Zhou said at a press conference on the sidelines of the annual parliamentary session.
“In mid-term, dim sum bonds enjoy a good future. In general, the bonds market, onshore or offshore, has a significant room for expansion,” Zhou said.