Foreign Banks Enter The Treasure Island Debt Market To Promote Taiwan'S Development Of RMB Offshore

The P, the European Union clearing bank (Euroclear) and the 3 Citibank jointly announced the launch of the international cross-border debt service. Overseas investors will directly invest in the Taiwan Island bond market through the Euroclear account.

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Ding Kehua, chairman of the P, revealed that he will announce cooperation with Luxemburg clearing and clearing agency on the 15 day. At that time, investors outside the island will directly participate in the "a href=" //www.sjfzxm.com/ news/index_cj.asp "treasure island debt market" /a through the world's top two clearing clearing houses or their custodian banks, and also take a big step forward for Taiwan to develop the offshore RMB market. "Clearstream"

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< p > > a href= "//www.sjfzxm.com/news/index_cj.asp" > Europe < /a > clearing bank is the largest source of foreign investment in offshore RMB capital market. In Asia, including Hongkong, the international centralized securities depository (IDSDs), Singapore and Taiwan, its customers hold more than 250 billion yuan (RMB, the same below) a href= "//www.sjfzxm.com/news/index_cj.asp" and offshore RMB "/a" bonds, accounting for 40% of the total market.

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After the three party cooperation, P announced that it was a very large island investor outside the Taiwan bond market to push the island debt into the international market, which is very important for the development of the bond market.

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< p > Taiwan's RMB capital pool has rapidly accumulated to nearly 250 billion yuan. So far, there are 15 stalls of 12 billion 100 million yuan in the bond balance, but accounts for less than 5% of RMB deposits, and there is still room for growth.

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By P, the entry of foreign investors into the bond market will not only help Taiwan attract the vast number of issuers outside the island, but also help Taiwan to develop the offshore RMB market more rapidly.

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< p > to expand the scale of the capital market and enhance the degree of internationalization, the executive yuan of the Taiwan authorities announced amendments to the relevant regulations in February this year. Investors outside the island invest in international bonds. They no longer need to register for FINI, securities accounts and designated tax agents. They hope to expand the participation of foreign currency bond market through the introduction of international custodial institutions of investors from outside the island.

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Wu Shoushan, chairman of the cabinet P, said earlier that the current situation of Hongkong's RMB market was compared with the size of the renminbi deposits in Taiwan. The estimated market space for the bond market is about 60 billion yuan. This year's balance is expected to double, and there is still room for growth.

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