It wasn't supposed to take this long. Hong Kong's renminbi
(RMB) bond market was purportedly born back in July 2007 when
the China Development Bank (CDB) issued 5 billion yuan worth of
renminbi-denominated bonds. At the time, this correspondent had
just moved to Hong Kong and was covering the Asian market for
IFLR. Back then, the mood in China was more expectant than
hopeful: bankers and their counsel were confident that CDB's
bonds would lead...