DBS Gets New License to Manage China Bonds as Issuance Rises

Dow Jones03-04 13:07

By Megan Cheah

DBS has secured a new license in China that expands the Singapore lender's reach in the onshore Chinese corporate bond market.

The bank said Wednesday that it has been granted a comprehensive underwriting license that strengthens its position as a gateway for foreign investors and issuers to tap the world's second-largest bond market.

The nod from the National Association of Financial Market Institutional Investors means DBS can serve as lead manager for onshore issuances in China's interbank bond market, including managing the group of banks and broker-dealers involved in an offering.

DBS, one of the biggest banks in Southeast Asia by assets, has been active in the Chinese corporate bond space for over a decade and is seeking to widen its footprint as market activity picks up.

"Foreign issuers are increasingly exploring panda bonds as they recognise the ample liquidity of China's bond market and the need to diversify capital market access," said Clifford Lee, global head of investment banking at DBS Bank.

The Singaporean lender aims to attract more high-quality international issuers to issue so-called panda bonds, and help overseas investors allocate yuan-denominated assets, said Ginger Cheng, chief executive of DBS Bank (China).

Panda bond issuance in the China interbank bond market have risen at a 26% compound annual growth rate over the past five years, said DBS, citing data from Chinese financial-data provider Wind Information.

Write to Megan Cheah at megan.cheah@wsj.com

(END) Dow Jones Newswires

March 04, 2026 00:07 ET (05:07 GMT)

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\n\n\n \n\n\n  DBS has secured a new license in China that expands the Singapore lender's reach in the onshore Chinese corporate bond market. \n\n\n  The bank said Wednesday that it has been granted a comprehensive underwriting license that strengthens its position as a gateway for foreign investors and issuers to tap the world's second-largest bond market. \n\n\n  The nod from the National Association of Financial Market Institutional Investors means DBS can serve as lead manager for onshore issuances in China's interbank bond market, including managing the group of banks and broker-dealers involved in an offering. \n\n\n  DBS, one of the biggest banks in Southeast Asia by assets, has been active in the Chinese corporate bond space for over a decade and is seeking to widen its footprint as market activity picks up. \n\n\n   \"Foreign issuers are increasingly exploring panda bonds as they recognise the ample liquidity of China's bond market and the need to diversify capital market access,\" said Clifford Lee, global head of investment banking at DBS Bank. \n\n\n  The Singaporean lender aims to attract more high-quality international issuers to issue so-called panda bonds, and help overseas investors allocate yuan-denominated assets, said Ginger Cheng, chief executive of DBS Bank (China). \n\n\n  Panda bond issuance in the China interbank bond market have risen at a 26% compound annual growth rate over the past five years, said DBS, citing data from Chinese financial-data provider Wind Information. \n\n\n \n\n\n  Write to Megan Cheah at megan.cheah@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 04, 2026 00:07 ET (05:07 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, 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