The market for public sector and corporate bonds in Hong Kong's offshore renminbi market hit boom mode in about July 2009. The Chinese government removed some currency restrictions, and issuance accelerated. But the effect was only fully articulated in 2010, when RMB140 billion ($22 billion) in bonds were printed, from RMB40 billion the previous year.

Even with recently sharp volatility, the market is on track this year to better 2010's number by about RMB60 billion.

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