ICMA publishes the second edition of the report Asian International Bond Markets: Development and Trends
|March 2022 ICMA, supported by the Hong Kong Monetary Authority (HKMA), has today published the second edition of its report, the Asian International Bond Markets: Development and Trends. The report shows annual issuance of cross-border bonds from Asia has increased more than sixfold from US$ 107 billion in 2006 to US$ 614 billion in 2021.
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Looking at markets across Asia including China, India, Japan, ASEAN and South Korea, the report identifies trends in both issuance and trading of international bonds in the region.
The growth of international bond markets in Asia has been fuelled by the steady entry of new issuers and by an increasing and diverse investor base, with Asian financial centres playing a larger role in arrangement and listing. Chinese issuances now account for 37% of the international issuance volume in Asia. Entrance of new issuers from China has been one of the key drivers of growth, while Indian issuers also increasingly contributed with debut international bonds in 2021.
Commenting on the report, ICMA CEO Bryan Pascoe said: “Our research clearly shows that Asian financial centres are playing significant and growing roles in facilitating the development of international bond markets, by arranging and listing primary market issuances, as well as providing secondary market liquidity through the market making activities of the international and domestic banks.”
Register here for our virtual event on 24 March
There is still time to register for our virtual event where the report’s authors will discuss the findings. The event will also feature an opening keynote by Darryl Chan, Executive Director (External), HKMA and a roundtable discussion with industry experts.