HK/China Equity Long-Short

Osbert Tang, CFA

Osbert Tang is an equity analyst with over 20 years of experience with focuses on China transport, infrastructure, industrials and utilities sectors. He has been based in Shanghai since 2003, accumulated nearly 20 years of on-ground knowledge on the Chinese economy and financial markets, and has a wealth of contacts with China corporates and government entities. 

Osbert has received votes from top-tier institutional investors and has been a highly-ranked transport and infrastructure analyst in the Asiamoney, Institutional Investors and Greenwich surveys. In addition to his extensive experience with international investment banks including RBS, ABN AMRO (both served as Shanghai Chief Representative), Paribas Asia Equity, Maybank Kim Eng and DBS Securities, he has been a senior analyst with Moody’s Investors Service with focus on ratings of China infrastructure and related LGFV issuers. He has also worked in the area of strategic development at Sun Hung Kai Properties Limited. 

Osbert holds a BBA from the Chinese University of Hong Kong, an MBA from the University of Texas at Austin and a MSSc in Applied Psychology from the City University of Hong Kong. He was accredited with the CFA charter in 1997, and is a member of both British Psychological Society and Hong Kong Psychological Society.

China Government Bonds and the FTSE WGBI Inclusion: US$160bn Incoming

China Onshore Credit: Policy Bank Bond as an Interesting Alternative to Government Bond

Investing into China's Growing Onshore Bond Market

China Onshore Credit: How Has Foreign Investors' Position Changed and What Is the Outlook?

China Onshore Credit: Bravo! 2Q20 Default Figure Better than Expected

China Infrastructure: Record Special Purpose Bonds Issuance to Drive Construction Sectors in 2H20

China Infrastructure REITs: First Look on H-Share Toll Road Sector

Credit

iShares China CNY Bond UCITS ETF / Credit

iShares China CNY Bond UCITS ETF (CNYB NA)

<p>China's government bonds are integral part of the country's onshore bond market. Having an aggregate value of Rmb19trn, these bonds represented 17% of the total outstanding notional value of the market. Their issuance will also set a new annual record in 2020 - YTD, total amount of Rmb4.77trn has been issued and this is already 14.5% higher than the value issued in 2019. </p><p>With the first China bond ETF in Singapore that invests purely in Chinese government bonds to be listed in this week and the potential announcement by FTSE Russell on a decision to add the Chinese bonds to its global benchmark, we see more interests being attracted to China's government bond market. In fact, over the last five years, the foreign percentage ownership has risen sharply from just 2.6% in Jan 2016 to the current 9.2%; and this is set to further increase going forward, in our view.</p>

China's government bonds are integral part of the country's onshore bond market. Having an aggregate value of Rmb19trn, these bonds represented 17% of the total outstanding notional value of the market. Their issuance will also set a new annual record in 2020 - YTD, total amount of Rmb4.77trn has been issued and this is already 14.5% higher than the value issued in 2019. With the first China bond ETF in Singapore that invests purely in Chinese government bonds to be listed in this week and the potential announcement by FTSE Russell on a decision to add the Chinese bonds to its global benchmark, we see more interests being attracted to China's government bond market. In fact, over the last five years, the foreign percentage ownership has risen sharply from just 2.6% in Jan 2016 to the current 9.2%; and this is set to further increase going forward, in our view.

China Onshore Credit: Update on the China Government Bond Market