Publications

Chinese domestic securitisation, after a few years of rapid growth from 2005 onwards under a variety of pilot schemes, was brought to a halt after the onset of the global financial crisis. Recent measures promulgated in May which promote the re-start of credit asset securitisation are the result of the Chinese authorities' careful consideration of prevalent international market practice. The re-launch of the Chinese domestic securitisation has the stated aims of encouraging a broader range of asset classes and investor participations. We consider the re-launch of the Chinese securitisation market to be an important and inevitable development.  We believe the measures are consistent with the internationalisation of the Renminbi, and the continued opening of the domestic capital markets to foreign investments.

We believe there is potential for Chinese securitisation market to be open to foreign investors in the form of either inbound foreign participation or outbound issuance. In this briefing we examine the existing securitisation regimes in China, the recent regulatory and market developments, and issues potential investors may need to consider.
 

Download Full Report