This study updates and compares the Dim Sum and Formosa bond markets: two major offshore RMB bond markets. The majority of Dim Sum bonds are not rated with most tenor in a range of two to three years while most Formosa bonds are rated with a maturity of three to five years. We also discuss future challenges and opportunities facing these two markets.

中文翻译：

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离岸人民币债券：点心和福尔摩沙债券

本研究更新和比较了点心和福尔摩沙的债券市场：两个主要的离岸人民币债券市场。大多数点心债券的期限在两到三年之内，大多数债券的期限都没有，而大多数福尔摩沙债券的期限则是三到五年。我们还将讨论这两个市场面临的未来挑战和机遇。