Corporate Bond market is one of the fastest growing segments of the financial sector in China.
The report begins with a brief introduction on the various segments of the bond market in China followed by a further split of corporate bond segments. Evolution of the corporate bond market in China entails a brief description of the major events that have taken place since its inception. The market overview section provides an overview of the global corporate bond market in terms of issuance of corporate bonds and corporate bonds outstanding. This section also includes a snapshot of the corporate bond market in China covering the market size with forecast figures between 2009 and 2015. The section also provides information about the investor profiles of the corporate bond market in China.
Furthermore, the report delves into the credit spread between corporate bonds yield and benchmark government bonds yield spanning between various investment grades and tenor.
Key drivers of the industry explain the factors influencing the growth of the corporate bond market in China in detail. Some of them include growing economy of China, corporate bond market reforms and product innovation.
Major challenges that could impede the development and growth of the Chinese corporate bond market include inadequate credit rating system, impact of securitization, inadequate information disclosure and underdeveloped secondary bond market.
The government initiatives section includes a detailed description of the steps to be taken by the government of China in view of developing the corporate bond market under its 12th five year plan. This section also covers the major regulators of the corporate bond market alongwith key steps to be taken by them for the purpose of developing the corporate bond market in China.
Key emerging trends that are of marked importance to the corporate bond market in China include foreign participation and rise in market liquidity.
The report contains a brief analysis on the competitive landscape of the corporate bond market in China. This section provides a three dimensional analysis of the key corporate bond issuers' revenues, profits and market capitalization followed by a ranking of companies based on the issuance volume of corporate bonds in China. The report also features brief profiles of the key corporate bond issuers in the market along with a snapshot of their corporation, financial performance and business highlights thus providing an insight into the existing competitive scenario.
Some of the key statistics or factors impacting the corporate bond market in China covered in the report include, global market size, global corporate bond issuance, domestic market size, corporate bond investor profile, local currency credit spread, growing GDP of the Chinese economy, share of medium term notes (MTN) in total corporate bond issuance, corporate bond trading volume and corporate bond turnover ratio.
Key takeaway section summarizes the entire market in terms of opportunities, challenges and competitive landscape persisting in the corporate bond market in China.
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Page 1: Executive Summary
Introduction
Page 2: Bond Market Segments
Page 3: Corporate Bond Market- Timeline
Market Overview
Page 4: Global Corporate Bond Market - Market Overview, Corporate Debt Outstanding, Corporate Bonds Issuance
Page 5: China - Corporate Bond Market - Market Overview, Market Size and Growth, Corporate Bonds - Investor Profile
Credit Spread
Page 6: Credit Spread - LCY Corporate Bonds vs Government Bonds
Drivers & Challenges
Page 7: Summary
Page 8: Growing Chinese Economy
Page 9: Reforms in Issuance Mechanism
Page 10: Product Innovation
Page 11: Inadequate Credit Rating System
Page 12: Impact of Securitization
Page 13: Inadequate Information Disclosure
Page 13: Underdeveloped Secondary Bond Market
Government Regulations
Page 14: 12th Five year plan
Page 15: Supervisory Focus of NAFMII
Page 16: Corporate Bond Market Reforms and Regulations
Page 17: PBOC Measure
Trends
Page 18: Summary
Page 19: Foreign Participation
Page 20: Rise in Market Liquidity
Competition
Page 21: Ranking of Top 30 Domestic Corporate Bond Issuers
Page 22: Domestic Competition Summary - Bubble Chart based on revenue, net income and market capitalization
Page 23: Domestic Competition Summary -Ranking Chart based on bond issuance
Page 24- 44: Profile of Major Domestic Corporate Bond Issuers in the Market
• Aluminium Corporation of China
• Agile Property Holdings Limited
• Agricultural Bank of China Limited
• Bank of China
• China Construction Bank Corporation
• China Minsheng Banking Corp. Ltd.
• China Petroleum & Chemical Corporation
• China Telecom Corporation Limited
• ENN Energy Holdings Limited
• Evergrande Real Estate Group Limited
• Industrial and Commercial Bank of China Limited
• Industrial Bank Limited
• Longfor Properties Co. Ltd
• PetroChina Company Limited
• Sino-Ocean Land Holdings Limited
• China National Petroleum Corporation
• State Grid Corporation
• China Guodian Corp.
• China Yangtze Three Gorges Development Corporation
• Country Garden Holdings Company Limited
• China Resources Power Holdings Company Limited
• CITIC Pacific Limited
Key Takeaway
Page 45: Key Takeaways
Global Market Overview
1. Corporate Debt Outstanding (2008, 2009 and 2010)
2. Corporate Bond Issuance (2008 and 2010)
Domestic Market Overview
3. Market Size and Growth (2009, 2010 and 2015e)
4. Corporate Bonds - Investor Profile (2010 and 2011)
Credit Spread
5. Credit Spread - LCY Corporate Bonds vs Government Bonds (Quarterly for 2009, 2010 and 2011)
Drivers and Challenges
6. Growth in GDP of China (2009, 2010 and 2015e)
7. Share of Corporate Bond in GDP (2010)
8. Local Currency Corporate Bond Issuance (2007, 2008, 2009 and 2010)
9. MTN- Share of Corporate Bond Issuance (2008, 2009 and 2010)
10. Issuance Volume of MTN (2009)
Trends
11. Corporate Bond Trading Volume (2008, 2009 and 2010)
12. Corporate Bond Turnover Ratio (2008, 2009, 2010 and 2011)
Competition
13. Ranking - Top 30 Corporate Bond Issuers
14. Top 8 Corporate Bond Issuers (Revenues, Income and Market Cap. 2010)
15. Revenue and Profit (2007, 2008, 2009, 2010)
• Aluminium Corporation of China
• Agile Property Holdings Limited
• Agricultural Bank of China Limited
• Bank of China
• China Construction Bank Corporation
• China Minsheng Banking Corp. Ltd
• China Petroleum & Chemical Corporation
• ENN Energy Holdings Limited
• Evergrande Real Estate Group Limited
• Industrial and Commercial Bank of China Limited
• Industrial Bank Limited
• Longfor Properties Co. Ltd
• PetroChina Company Limited
• Sino-Ocean Land Holdings Limited
• Country Garden Holdings Company Limited
• China Resources Power Holdings Company Limited
• CITIC Pacific Limited
