Muted demand in Hong Kong for renminbi-denominated structured notes
Renminbi-denominated structured products are being issued by banks as part of Beijing's incentive to make Hong Kong its offshore renminbi centre.
Structured products denominated in renminbi are being issued in Hong Kong as part of the Chinese government's plans to foster an offshore renminbi centre.
"With Hong Kong as the offshore renminbi centre, banks are now able to issue structured notes and equity-linked notes (ELNs) denominated in offshore Chinese renminbi," says Adam Cowperthwaite, head of equity derivative sales Asia ex-Japan at Daiwa Capital Markets in Hong Kong.
The move will allow domestic and international investors to buy
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