Since 2010, diverse international borrowers have tapped this market. These include the Asian Development Bank, Caterpillar, Galaxy Entertainment, IFC, McDonald's, VTB Bank, the World Bank , ORIX and Unilever. The list of borrowers issuing Renminbi bonds in Hong Kong continues to grow quickly by the week.
In a sign of China’s commitment to internationalize the Renminbi and to support the development of the offshore Renminbi bond market, China’s Ministry of Finance returned to the market in late 2010 for the second straight year, with increased offerings totaling 8 billion Renminbi ($1.2 billion) and with increased tenors of up to 10 years. Chinese agencies and financial institutions have also contributed to the record volumes in 2010 and Chinese corporations have now begun to tap this market too.
