Deutsche Bank Wins Nod to Underwrite Corporate Bonds in China

Deutsche Bank AG became the latest foreign bank to be allowed to underwrite China’s corporate bonds as the government opens up the onshore debt market. The German bank has received approval from the National Association of Financial Market Institutional Investors, or NAFMII, to underwrite corporate bonds sold by both onshore and offshore issuers in the interbank market, it said in a statement. A year ago, China started allowing overseas investors to invest via Hong Kong through the bond-connect program in the bigger of China’s two debt markets.