China: Are Corporate Bonds Ready to Rock?

Beijing plans to launch a pilot program that could give the mainland's corporate bond market a much-needed boost

Until now, China's corporate bond market has been little more than a sideshow to the country's blistering stock market. There are only a few dozen companies with corporate bonds listed on the Shanghai Stock Exchange, and trading in the secondary market has been lackluster, at best. Last year, only $17 billion in corporate debt was raised, compared with $3 trillion by companies in the U.S., according to Thomson Financial.

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