Launch ceremony of DOCVIT bond default dispute resolution new product line and seminar on bond default disposal and bond market development under the new normal of economy
What is the development trend of China’s bond market?
Data shows that by the end of May 2019, the custody scale of China’s bond market has exceeded 91 trillion yuan, making China the second largest bond market in the world, second only to the United States; 1,141 overseas investment institutions have entered the interbank bond market, holding a total amount of 1.89 trillion yuan; 193 “Panda Bonds” have been issued, totaling 342 billion yuan.
In the first half of the year, the bond market saw the interleaving of multiple factors, and was mainly characterized by fluctuations. In addition, the financing difficulty of small and medium-sized financial institutions has increased, and liquidity conditions have also seen stratification. Coupon-rate contribution is higher than duration contribution, the performance of debenture bond is better than rate securities. In the first quarter, driven by the fundamentals and money, interest rates went downward quickly, and in the second quarter, financial statistics saw some improvement, there was an upswing in risk appetite, and interest rates saw an over 40bp sharp adjustment.
How will the bond market develop in the second half of the year?
Uncertain factors of internal and external environment still exist, and the tightening of the liabilities end of small and medium-sized financial institutions may further transmit to the assets end, making the process of credit expansion baffled again, and financial institutions’ risk control system to be reshaped. Therefore, as to bond market, in an environment where fundamentals are under pressure and credit expansion is blocked, in the second half of the year, rate securities and high-grade debenture bonds would benefit more, while low- and medium-grade debenture bonds are facing the risk of spread widening.
Halfway through 2019, how will the bond market perform in the second half of the year? How will various factors affecting the bond market work? Where are the investment opportunities? How do bond default disposal and bond market develop under the new normal of economy?
In order to discuss the above issues in depth, Beijing DOCVIT Law Firm will hold a seminar “bond default disposal and bond market development under the new normal of economy”. At the seminar, DOCVIT bond default dispute resolution new product line will be released; the product line studies and analyzes the development environment of China’s bond market and the problems and challenges facing its dispute resolution in the context of the new normal of economy and, from a legal perspective, explores the new ideas on bond default disposal in the context of tighter regulation.
Seminar “bond default disposal and bond market development under the new normal of economy”
Time: 14:00-17:00, Aug. 17, 2019
Venue: GLGA Innovative Development Center (16/F, Area A, Building 1, Zhubang 2000 Business Center, No.100 of Xili, East Balizhuang, Chaoyang District)
Session 1: Topic discussion: new ideas on bond default disposal in the context of tighter regulation 14:00-15:00
1. Opening remarks by moderator
2. Keynote speeches
3. Discussion and exchange of views
Topic 1: Opportunities and challenges of China’s bond market in the new situation
Topic 2: Establishment and improvement of market-based disposal mechanism in the context of normalization of bond default
Topic 3: The new changes in interbank market repurchase default disposal
Session 2: DOCVIT bond default dispute resolution new product line launch ceremony 15:00-15:30
1. Launch ceremony DOCVIT bond default dispute resolution new product line
2. Interpretation of DOCVIT bond default dispute resolution new product line
Tea Break: 15:30-15:40
Session 3: Symposium on bond default dispute resolution 15:40-16:50
1. Topic speech
Topic 1: Special remedy for listed companies’ bond default
Topic 2: Liability and conflict of interests of underwriter and trustee in the event of bond default
Topic 3: Bond default and debt restructuring
Topic 4: Financial institutions vs. state-owned enterprises in bond default
Topic 5: Penal priority in bond default dispute
Session 4: Meeting summary 16:50-17:00
May be interested
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