Growth in China’s offshore corporate bond market seems likely to continue in 2018, driven by the financing needs of investment grade state-owned enterprises (SOEs) and private sector companies. This market has exhibited extraordinary resilience and strong performance over the last 12 months due to a variety of technical and macroeconomic factors, helping China become the leading issuer of emerging market debt and a growing presence in global credit indexes. Here are five bottom-up themes we expect will continue to drive China's U.S. dollar-denominated corporate bonds issued in the offshore market in the coming year. ... (full story)