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Top related persons:
Aly - 1 Zhu Yangmo - 1 LGFVs - 1 Zhu - 1 Chi Lo - 1 Li Gu - 1 Samuel Shen - 1 Tom Westbrook - 1
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Search resuls for: "Li Gu Tom Westbrook"


3 mentions found


☆ China investors jump into municipal bonds, hopes of state support outweigh debt woes
  + stars: | 2023-08-17 | by ( Li Gu Tom Westbrook | Li Gu | Tom Westbrook | ) www.reuters.com   time to read: +4 min
Yields on one-year real estate bonds rated AA- have widened 220 bps in the past month, data from Chinabond shows. That divergence reflects investors' expectations that Beijing will support LGFVs in order to minimise financial contagion, despite rising delinquencies among developers. Yields on LGFV bonds issued in August averaged around 3.9%, the lowest seen this year, according to data provider Dealing Matrix(DM). The chorus of economists calling for China to support LGFVs as part of measures to shore up the economy has grown. Chi Lo, Hong Kong-based senior economist at BNP Paribas Asset Management, said Beijing needs to refinance LGFV debt over the next three to five years to prevent the system from imploding.
Persons: Aly, Zhu Yangmo, LGFVs, Zhu, Chi Lo, Li Gu, Samuel Shen, Tom Westbrook, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, China Central Depository, Asset Management, Garden Holdings, HK, China International Capital Corp, Tianjin Infrastructure Investment Group, AAA, China, Thomson Locations: Shanghai, China, Rights SHANGHAI, SINGAPORE, Hainan, Beijing, Tianjin, Hong Kong, imploding, Singapore
☆ Chinese stock listings in Europe face liquidity hurdle
  + stars: | 2023-04-20 | by ( Li Gu Tom Westbrook | Li Gu | Tom Westbrook | ) www.reuters.com   time to read: +5 min
The London Stock Exchange Group (LSEG) (LSEG.L) and UK trade officials visited several cities in China to promote UK capital markets recently. Wilson Xu, a banking veteran from CITIC Securities pioneering the Stock Connect programme, said liquidity will improve when there is a critical mass of Chinese listings. The Shanghai-London Stock Connect was launched in 2019 and the link was expanded last year to include Shenzhen and Switzerland. Even arrangements by SIX to allow roughly 2.5 hours of trading in a session for Chinese GDRs didn't help. Chinese companies, however, have been positive in public disclosures about their forays in Europe which have given them an alternative channel to raise funds and access foreign currency for their operations abroad.
☆ London seeks to improve its game as Zurich draws Chinese listings
  + stars: | 2023-03-30 | by ( Samuel Shen Li Gu Tom Westbrook | Samuel Shen | Li Gu | ) www.reuters.com   time to read: +4 min
The London Stock Exchange and British officials are ramping up efforts to build a robust pipeline of Chinese firms, trading on London's status as Europe's deepest capital market. Edwards said he thought London was "an obvious choice" for many Chinese companies "given the issues around the U.S.-China relationship." However, the China-Switzerland Connect - an eight-month-old rival scheme - is gaining more traction among Chinese companies, partly due to a relatively easier process. The London Stock Exchange is "actively looking at how they can address some of the issues," Edwards said. Edwards said officials have identified hundreds of Chinese companies that could potentially issue GDRs in London and "are actively approaching them at the moment."
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