Chinese banks to sell ABS to boost local bond market

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CHINA - China Construction Bank (CCB), the country's third-biggest lender, and China Development Bank (CDB) have been earmarked for a special pilot programme to sell a combined CNY15bn (US$1.81bn) of asset-backed securities in an effort to lift the stumbling mainland bond market.

CCB would sell CNY5bn of mortgage-backed bonds, and CDB, a policy bank that funds infrastructure projects, would offer CNY10bn of debt backed by other types of loans, said Tang Shuangning, a vice-c...

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