China Market Review, October 2023: FX continues domination, AUD/USD tops chart

Some 490 structured products that gathered an estimated CNY167 billion in aggregated volume had a strike date in October. An additional 516 structures matured during the month resulting in CNY191 billion flooding back onto the market for potential reinvestment. The best-performing product was Bank of China’s 人民币结构性存款 2023 年第 DZ230898 期 /Structured Deposit CNY GRSDRDZ230898 . The 16-day CNY-denominated structure was linked to appreciation of the Australian dollar relative to the US dollar