Named after well-liked Cantonese cuisine, dim sum bonds refer to bonds issued outside of Chinese mainland but denominated in renminbi.

With the first dim sum bond issued in 2007, the gross issuance for the first eight months this year has reached to 426 billion yuan, or 114 percent of the total in 2013, according to data compiled by Standard Chartered. The agency remains a full-year issuance forecast at 550 to 580 billion yuan.

Rating agency Fitch said in a report that it expects demand for dim sum bonds to grow significantly over the medium to long term, driven by increasing acceptance by global investors of the renminbi as a major global asset and trading currency.

Bank of China Hong Kong launches its first renminbi-denominated high-yield bond fund, on Mar 7, 2013. [Photo/IC]

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