'Dim Sum' ETFs Offer China Bond Exposure
NEW YORK ( TheStreet) -- The latest fad in exchange-traded funds is ETFs that own bonds issued in Hong Kong and denominated in renminbi, the Chinese currency.
These are known as "dim sum" bonds, after the small plates of food served for breakfast and brunch in southern China.
Two funds investing in these bonds were listed last week, and more are in registration. China's importance in the world economy continues to grow, and the special administrative region of Hong Kong is a key financial center.
China's bond market is growing, and more and more global companies are issuing debt denominated in renminbi.
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