China Market Review, December 2021: CSI Smallcap 500 – top underlying in FY2021

Some 516 structured products with an aggregated volume of CNY55 billion had a strike date in December. A further 350 structures matured during the month with approximately CNY31.5 billion outflow of capital. The majority of the maturing products were short to mid-term structured deposits using combinations of 12 different payoff mechanisms . The SRP database reveals a sharp reduction in activity at the end of FY2021 as issuance decreased 3.5-fold compared to the previous year. Some 4,491 struc