ABC unit to add traders as Dim Sum sales rise

ABC International Holdings Ltd, a unit of China's third-largest bank, plans to hire more traders for yuan bonds in Hong Kong, betting issuance will rise further after tripling in two years to a record in 2012. The overseas investment-banking arm of Agricultural Bank of China Ltd is seeking a bigger share of the Dim Sum debt market after climbing to the fifth rank among underwriters this year from No 10 in 2012, according to data compiled by Bloomberg. Yuan debt sales, excluding certificates of deposits, are set to surpass last year's 112 billion yuan ($18 billion), with more State-owned companies tapping the offshore market, the Chinese lender predicts.

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