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ASIFMA mentioned in fDi story “China cracks down on free zones bonds”
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“[FTZ bonds] are features of jurisdictions with capital and exchange controls,” notes Philippe Dirckx, head of fixed income at Asia Securities Industry & Financial Markets Association. Like GIFT City, India’s first greenfield smart city, which also issues bonds, they tend to offer preferred access conditions to the domestic market and more flexibility for both offshore investors and onshore issuers, he says. Now, Mr Dirckx says, the market for China FTZ bonds is “reassessing where to go from here, but one can expect that, in the medium term, quality issuers will remain attracted by the opportunities of the FTZ”.
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