With China and India – Asia’s two largest emerging economies – opening their currencies and reforming their capital markets, the 2017 meetings offered a timely opportunity to discuss the region’s progress, and the challenges that remain. China this year allowed foreign investors to invest in onshore renminbi bonds without opening a bank account on the mainland, introducing a groundbreaking Bond Connect platform in early July. That followed a direct access programme giving certain institutional i

Arnab Das Invesco Arnab Das is head of emerging markets macro research at Invesco Fixed Income. He joined Invesco in 2015, and previously held senior research positions at Roubini Global Economics, Dresdner Kleinwort and JP Morgan. He has also been a private consultant in global and emerging markets, as well as consulting with Trusted Sources, a specialist EM research boutique in London. He has a degree from Princeton University and a doctorate from London School of Economics, and is based in Lo

IFR Asia: Welcome to the IFR roundtable. We have for you a discussion on the internationalisation of the Asian capital markets, and a wide range of views represented on the panel. The first question to kick things off is why are we here to talk about Asia? In my mind, it’s because of a few recent major developments in Asia’s biggest capital markets, China and India, but I’m going to ask Alexi for your view on how significant the Asian emerging markets are and what internationalisation really mea

IFR Asia: Alexi, maybe this is a question for you. How do you get around some of the investor concerns when you want to encourage people to go to the international markets? ALEXI CHAN, HSBC: Yes, I think there are some very interesting issues around the challenges of developing these local markets. What’s very important for international issuers, underwriters and investors, first of all, is the consistency of the regulatory and government framework behind these markets. It clearly can be challen

IFR Asia: Let’s maybe try and take a few questions from the audience, if we can. AUDIENCE: I’m Barbara Stallings from Brown University. This panel was obviously set up to talk about debt markets, but capital markets do include equity markets. With two possible exceptions, Mr Das and Mr Sternberg with casual mentions of the Indian equity markets, nothing. I wonder if anyone could say anything about the equity markets in Asia and how they link to corporate bond markets in the region? Thank you. MO