【Recap】CSPI Ratings was Invited to Speak at Cbonds “BondLab: Generating Bond Investment Ideas for Asia and Beyond” Webinar
On May 7, 2026, CSPI Ratings was invited to speak at an online seminar “BondLab: Generating Bond Investment Ideas for Asia and Beyond” hosted by the international bond market intelligence platform Cbonds. The webinar was held in English, drawing more than 100 market participants from global capital markets.
The seminar focused on investment opportunities and strategies for Asian bond markets amid a complex macroeconomic environment. Speakers included Mr. Haobin Wang, Senior Economist at the ASEAN+3 Macroeconomic Research Office (AMRO) (based in Singapore), Mr. Warut Promboon, Managing Partner of Bondcritic Ltd. (based in Bangkok) and Mr. Terry Zhang, Head of Global Strategy and Business Management at CSPI Ratings. The seminar was moderated by Ms. Xenia Dmitrieva from Cbonds (based in Dubai, UAE). Discussions covered topics including the impact of the Middle East oil crisis on Asia, green and sustainable finance, and investment opportunities in Asian local-currency markets.
Terry delivered a presentation titled “The People’s Currency and The Yuan Markets”. He began by reviewing China’s macroeconomic performance from 2023 to 2026 Q1, providing a comprehensive analysis of trends and outlooks for investment, consumption, and net exports. He then systematically introduced China’s sovereign credit profile, based on its “AA” international scale sovereign rating assigned by CSPI Ratings. He noted that China’s sovereign credit strength is supported by factors such as its large economic scale, diversified industrial structure and strong economic and institutional resilience. At the same time, he highlighted potential risks including fiscal pressures, adjustments in the real estate market and relatively weak external and internal demand.
Terry also emphasized that, despite the ongoing structural adjustment of China’s economy and the increasingly complicated international conditions, China's robust and complete industrial supply chain has been further consolidating its position in the global division of labor. Using China’s electric vehicle industry as an example, he explained that as China’s manufacturing competitiveness and cross-border economic linkages continue to strengthen, the role of the renminbi is evolving. RMB is no longer limited to a mere payment and settlement tool. Instead, driven by increasingly diverse use cases and real demand, it is expected to gradually support broader functions, including financing, investment, and even reserves.
From perspectives including policy support and financial infrastructure development, Terry further outlined recent progress in RMB internationalization.
Terry introduced the concept of “Yuan Markets” to conclude the market developments across Panda Bonds, Dim Sum Bonds, and FTZ Bonds (Free Trade Zone Bonds). He noted that the three markets are distinct in their applicable legal frameworks, regulatory regimes, infrastructure, and investor base. Historically, they have often been treated and studied separately. However, in the context of RMB internationalization, all three markets can play roles in providing renminbi liquidity to overseas markets and supporting capital circulation. Terry also analyzed the potential opportunities of the “Yuan Markets” to international investors versus domestic investors, and pointed out that international issuers may flexibly select an entry path into the appropriate renminbi market based on their own credit profile, financing needs, and market conditions.
The seminar featured lively interactions, with attendees asking detailed questions throughout the session, reflecting the high level of international investors’ attention on the evolving progress of RMB internationalization.
Related Resources
【Replay】Cbonds now offers the full replay of the seminar free of charge on YouTube. You may scan the QR code below or click here to watch.
【PPT】CSPI Ratings now offers free access to the full presentation slides by our speaker, Terry Zhang. Click the red "Download" button on the top left of the page to register and download.
Related Research
Full Research | CSCI Pengyuan: When the Stars Align - The Rise of Panda Bonds
Full Research | CSPI Ratings: The Strategic Calculus Behind Foreign Issuers’ Rush to Dim Sum Bonds
About Cbonds
Cbonds is a leading global financial market intelligence platform. Founded in 2000 and headquartered in Dubai, United Arab Emirates, Cbonds provides comprehensive intelligence on bonds, equities, and ETF markets for professional investors, asset management institutions, family offices, and financial institutions. Its platform covers extensive data across more than 180 countries, with particular strength in Eurobonds coverage within fixed income. It also offers specialized content such as real-time market quotes, credit ratings, issuance information, and macroeconomic analysis. Through its website platform, API services, data subscriptions, and Excel plugins, Cbonds delivers efficient and accurate market solutions to clients worldwide, and regularly hosts fixed income conferences globally to help investors make informed decisions.
About CSPI Ratings
CSPI Ratings (Full name: CSPI Credit Rating Company Limited) is a leading global credit rating agency headquartered in Hong Kong. Licensed by the Hong Kong Securities and Futures Commission (SFC) since 2012, we provide world-class credit insights, combining global benchmarks with an emerging market perspective.
In 2025, CSPI Ratings was recognized by the Mandatory Provident Fund Schemes Authority (MPFA) as an "Approved Credit Rating Agency," joining Hong Kong’s MPF regulatory framework. As of the end of 2025, MPF total assets reached over HKD 1.5 trillion.
CSPI Ratings’ analytical excellence is widely recognized, having been honored with DMI's "Internationalization Award for a Chinese Rating Agency" for two consecutive years (2025-26). Additionally, we were recognized as "Public Finance Rating Agency of the Year – China" by The Asset from 2022 to 2026, achieving this accolade for five consecutive years. Furthermore, we received the "2025 Internationalization Award for Chinese Credit Rating Agencies" from the China (Macao) Financial Assets Exchange (MOX).
As a member of China Securities Credit Investment Group, CSPI Ratings leverages a strong network of 34 leading Chinese financial institutions. As the international brand of CSCI Pengyuan, we bridge global investors with trusted credit insights.
Rating Services Contact
Email: globalservice@cspi-ratings.com
Media Contact
Email: media@cspi-ratings.com