China rate cut boosts offshore structured product market

High-net-worth investors pile into dollar and commodity structures as PBoC loosens

China map

Interest rate cuts in China and the weakening of the renminbi versus the dollar have driven an increase in Chinese high-net-worth investors buying offshore-issued structured products, particularly ones denominated in US currency, say market players.

The People's Bank of China (PBoC) has cut benchmark interest rates twice since November, with the latest March 1 move reducing the one-year deposit and lending rates down by 25 basis points each to 2.5% and 5.35% respectively. The renminbi depreciate

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