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China delays renminbi onshore CDS pilot project

|Includes: ABGEF, AYT, BACHF, BACHY, CHINA HGS REAL EST (CAHS-OLD), CHII, CHNC, CICHF, CNY, CYB, IDCBF, PGD, SHI

China has reportedly decided to delay their onshore credit default swap pilot project amid concerns from other parts of the domestic establishment including regulators such as the China Banking Regulatory Commission (CBRC) that the underlying cash bond market may still be a bit too young. After expressing optimism for a launch later this year, the process will now likely take 3-4 years according to analysts.

Disclosure: long all stocks