After the Spring Festival. Hot real estate sector in Hong Kong benefit from getting the news of the offshore renminbi market after another.
2 22 February, Hong Kong-based real estate private Ji Jinji Gateway Capital (Gaw Capital) Pengqing Bang, managing partner in Beijing, an exclusive interview to this reporter said that at present, of Gaw Capital is to go to Kong Renminbi REITs (real estate investment trusts) the feasibility of Gaw Capital is very positive about our offshore yuan REITs market.
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newspaper had previously reported that Li Ka-shing's Cheung Kong are promoting the RMB REITs, and listed in Hong Kong Chinese New Year Housing prices in Hong Kong to the mainland yuan bonds sold, more and more investment in housing prices or real estate agencies are to benefit from the rapid growth of the Hong Kong offshore yuan market.
or the issuance of RMB bond financing, or choose to exit the RMB funds REITs as a platform.
2 24, who declined to be named, housing prices in Hong Kong listed mainland financial responsible person is the reporter said, >
industry believes that the RMB appreciation and to promote internationalization of the RMB central double expectations, the Hong Kong market, the rapid development of offshore renminbi must be able to attract housing prices in the market trying to issue more financial instruments, and its products diversified inevitable trend. However, the share of the cake that is needed to expand over time, cost at least two checkpoints.
product diversification power
According to report statistics, in 2011, there have been, including Shui On Land, Hengda Real Estate, Kaisa, and a number of home buyers in housing prices Chun issuance of renminbi bonds in Hong Kong, the cumulative amount of more than 200 billion yuan.
issuance of RMB bonds in Hong Kong are increasingly long list of enterprises, Road King Infrastructure, and the first home buyers who are budding into the column.
is worth noting that before the Spring Festival with the number of companies offering renminbi bonds is different is that although the two companies sold the same as the RMB bond, but because of the specific settlement of the yuan and the selected non-US dollar, renminbi actually belong to another kind of debt products.
issued by other enterprises is RMB and U.S. dollars, and is called 'synthetic securities', not a product. locked in the hands of RMB in Hong Kong, investors or institutions, listed companies in Hong Kong, the Mainland opened precedent. The products are innovative. The Department of Cheung Kong's RMB REITs continue to spread the message listing, although the Cheung Kong has not yet given a clear reply to a reporter, but what is certain is that the launch of the renminbi REITs holding the renminbi in Hong Kong must give investors more abundant investment choice.
obvious reason for continued product innovation. To July 2010, Investment demand is spawned all kinds of products are emerging.
accordance with the latest data released by the HKMA, as at the end of December last year, total RMB deposits in Hong Kong reached 314.9 billion yuan, an increase much higher than in 2009. According to data disclosed by Deutsche Bank, offshore renminbi foreign exchange market daily trading volume continues to grow, the current daily turnover of U.S. dollar against the renminbi offshore about 900 million U.S. dollars.
banks continue to raise interest rates, expand RMB Lanchu war, but the deposit rate at most 1% more, or can not meet the needs of people for the return.
in his view, as long as the return on investment product returns than deposits, the strong investment demand have imagined. Pushing the other hand is an appreciation of the renminbi.
4% to 5% return, but there is good appreciation of the renminbi, and I expect 3% to 4% annual returns are likely to usher in an over-subscription!
trend controversy
in the above demand, subject to domestic financing channels via Hong Kong housing prices naturally want financing. And the related financial institutions want to issue a share during this period.
UBS Global Capital Markets, Managing Director of Asia Region Junjie previously told reporters that the company expected to see more synthetic RMB bonds issued in Hong Kong, and duration will be more abundant. > UBS in December last year, as Ryan is the real estate issue RMB 3.0 billion synthetic bonds, these bonds of the first of its kind to open the underwriters.
For other products are also instructive.
However, this area of the The industry believes that housing prices could benefit from this market in addition to need to have certain conditions, such as foreign financing platform, but also need to have two control points.
first time window is shut. Insiders said, including home ownership, including Chun companies are caught up in the time window to open. However, at present, the window may soon close.
the Hong Kong-listed mainland enterprises financial Housing relevant person in charge, told reporters that p>
Second, there is not the expected cost of the related issue. Data show the year 2010, the offshore market in Hong Kong recorded a total of 46.7 billion yuan bond issue, while only 2 months into 2011, including synthetic, including offshore renminbi bond issuance volume has exceeded 200 billion yuan, significantly faster.
as the product increases, the investor has more room to choose up, room rate To get more attractive, more cost to become a must to, but each company How high can bear the cost is unknown.
Zone JJ pointed out that when the market is more and more of the RMB bond issuance, investors will more choice, they will pay more attention to price. Therefore, the company's debt issuance costs in 2011 may increase.
In addition, the industry said this long-term trend of offshore yuan market, said wait and see.
space, many foreign people are rushing for the RMB, but the trend for how long, I still said wait and see.
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