A flying start for offshore renminbi but equity structures in short supply

The launch of China’s CNH market has been a success, but several constraints are affecting the development of structured products for it. As the liberalisation of the currency continues, Sarah Nowakowska explores what lies behind the shortage of equity-linked opportunities

chinese renminbi

It has been a little over a year since the creation of the first offshore renminbi centre in Hong Kong that enabled the currency to become tradable outside mainland China in the form of the CNH. In that time, accumulation of the offshore currency has led to a CNH deposit base increasing from RMB90 billion ($13.9 billion) to roughly RMB549 billion as of July, opening the door for further development of structured products linked to the offshore version of the currency.

While bonds and currency

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