Bonds are often named after country-representative items, such as Yankee Bond from the United States, Samurai Bond from Japan and Kangaroo Bond from Australia. China also names bonds issued in the Mainland, Hong Kong and overseas as Panda Bond, Dim Sum Bond and Kungfu Bond respectively. 

Besides the place of issuance, the bonds differ in terms of the currency denominated. Since the income of the projects is calculated in RMB in China, the issue of currency exchange rate will be associated once the bond is calculated in US dollars and foreign exchange hedge would be necessary.

Learn more from the full article (in Chinese only) written by Kenny Siu, Senior Advisor of AEC Group, published on Sing Pao on 29 November.