Offshore RMB market to hit $30 billion this year

Investor confidence in Hong Kong’s CNH market appears to be gathering pace on the back of a rapid rise in bond issuance and a sharp escalation in secondary market trading. Already this year an estimated CNH37 billion ($5.7 billion) in bonds have been issued in Hong Kong, including a plethora of high-yield deals, taking the total market size to almost CNH100 billion. Of that, some CNH17 billion has been issued this month alone. Deutsche Bank is forecasting that the market will do…