Offshore RMB Bond Market Development Research

The construction of the bond market, is a national currency investment function to save one of the most important part of the functional transformation process. The offshore RMB bond market has become a high-profile emerging bond markets. With the constant improvement of offshore RMB liquidity, RMB bonds pricing gradually improved and offshore RMB backflow mechanism gradually improve, offshore RMB bond market scale will continue rapid growth.The biggest challenge facing the internationalisation of the RMB is from the current domestic capital account is still not completely let go, the RMB not freely convertible. So the construction of the offshore bond market has become the most important in the process of RMB internationalization strategy choice. RMB offshore market construction, and can provide a buffer zone in China, the capital account has not let go of slow-release risk in the process of the RMB internationalization, of course, we should also recognize that with the development of the offshore RMB market, the increasing of the issuers, investors, low threshold, RMB assets, bonds and derivatives products category (including interest rates, exchange rates, assets, credit) will be more and more, as a buffer of the offshore market in Hong Kong, in turn, will cause certain impact to the domestic market, will also have effects on the government’s economic policy independence.Based on the offshore RMB bond market development present situation as the breakthrough point, analyzes its present situation and the characteristic, through to the offshore RMB bond market related theories overview, elaborated the development of a RMB bonds market has increased the offshore RMB investment channels, is conducive to expanding the scope of the RMB trade settlement, promote the internationalisation of the RMB. The offshore RMB bond market is still in the initial stage of development, still in perfect the relevant regulations, it is necessary to pay attention to its developing speed and sustainability. Finally through to the offshore RMB bond market development present situation and problem analysis, put forward further policy recommendations to promote the development of offshore RMB bond market.