Opening China's derivatives door



China's derivatives market developed as a result of the inflow of US dollar-denominated debt into its state-owned enterprises' (SOEs) in the 1990s. This inadvertently resulted in a demand for foreign and local currency interest rate swaps to manage liabilities and hedge renminbi risks. But it was only the four state-controlled banks that were allowed to trade local and foreign currency denominated derivatives. A decade on and things have not changed much.

Despite the absence of an onshore li

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: