China corporate bond market set to take off, say fund managers

"China is the most exciting fixed-income market in Asia, and possibly the world,” says Wang Yu-Ming, the new regional head of fixed-income at MFC Global Investment Management in Hong Kong. The country’s bond market has grown from $62 billion in late 1996 to $2.4 trillion by the end of 2009, accounting for over half of Asia ex-Japan’s $4.2 trillion in bond assets at that time, according to the Asian Development Bank. And it is growing fast, particularly on the corporate-bond side. That…