AIA's CIO laments lack of bond market development

Q How important is the development of local bond markets? A All of us in this region are looking at the supply of credit in the market and of course the dominant player has become China. So liberalisation of the bond market in China is a key strategic consideration, and with that is the development of more market-oriented risk pricing around credit, which we haven’t seen because to price risk correctly you’ve got to have defaults, which you haven’t had in mainland China. The right…