Introduction

Contents

1: Credit risk analysis: China's default rate could creep higher to 5.9% in November

2. BI research: Impact of US sanctions on China state and tech firms

3. China secondary bond market: Domestic yield dropped in October

4. China primary bond market: Shanghai FTZ offshore issuance has tripled so far this year

5. Appendix: Key functions and BI reports

6. Additional charts: Distressed securities and subscription trends

*Disclaimer

In this month's edition of the China Market Insights, we share our view on the credit risks that Chinese state-owned companies and tech firms face from US sanctions. Our analysis shows China's corporate bond market could face higher refinancing stress in November. While offshore trading volumes were slightly up in October, the Shanghai Free Trade Zone's offshore bond issuance has tripled this year. Refer to the appendix for our credit analyses on Fosun, GLP, CATL, and other relevant BI reports on China. 

John Lee
Regional Market Analyst
Bloomberg Intelligence

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