Chinas national team is getting bigger.
After stepping into the currency and equity markets repeatedly over the past year to stem declines, government-linked entities are now spurring capital inflows by raising money offshore and bringing it home. Sales of dollar bonds by some of Chinas biggest state-run firms rose to a record $18.7 billion in the April-June period, about 80 percent higher than the average of the previous four quarters. In comparison, overall issuance by Chinese companies shrank 11 percent as a weakening yuan drove up the cost of servicing overseas debt.
This comes after Chinas top economic planning agency said last month that it has allowed 21 companies — including the nations biggest banks — to sell foreign-currency d…
Read the full article at: http://www.bloomberg.com/news/articles/2016-07-24/china-state-firms-help-offset-outflows-with-overseas-debt-sales