HSBC was the only top five provider that refrained from issuing products linked to FX-rates during 2023.
Eleven different issuer groups launched 6,352 structured products in China during 2023 – slightly more than the 6,151 products (from 14 issuers) that were available in 2022. China Merchants Bank (CMB) and Bank of China (BOC) were responsible for more than 75% of all issuances in 2023. The former issued 2,519 structured products , including 1,690 that were linked to the gold spot to US dollar exchange rate (XAU/USD). CMB also issued 706 products on a single equity index – mostly th