China’s Ningxia region mulls landmark sukuk

China’s Ningxia Hui Autonomous Region (Ningxia) is looking for new funding channels in 2015 and could opt for sukuk and/or conventional offshore dollar bonds for total funding of $1.5bn. A sukuk deal would make Ningxia the first ever Chinese issuer of sukuk, and tapping the offshore market would make it the first Chinese sub-sovereign issuer to tap overseas markets without using a subsidiary company as the issuing vehicle.