Renminbi-denominated bonds known as “dim sum bonds”, which are issued by both Chinese and non-Chinese issuers, are traded on the offshore renminbi markets – that is to say, outside mainland China.
The number of dim sum bonds issued has skyrocketed ever since they were launched in 2007, with a new record level of 451 billion yuan also being achieved in the first nine months of 2014 compared with 376 billion yuan for the whole of 2013. Dim sum bonds have also been issued in Frankfurt already. Market participants call them “Goethe Bonds”.