China aims to boost bonds
Chinese central bank admits failings in development of domestic bond market and vows to make improvements
At October's China Bond Market Development Summit, Zhou Xiaochuan, governor of the People's Bank of China (PBoC), listed 12 mistakes made in the initial development of China's corporate bond market that led to a host of defaults in 1993. Ranging from regulatory failings to a lack of independent credit rating system and transparency, they mirror the reasons voiced by the largest global bond investor Pimco recently for its current disinterest in the region's debt market.
Nonetheless
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