The iBoxx ALBI China Offshore Index is designed to measure the performance of CNY-denominated bonds issued in Hong Kong, Macau or outside of the People's Republic of China (excluding bonds solely listed or registered in Taiwan), with a minimum amount outstanding of CNY 500 million. Securities must have a minimum initial time to maturity of 18 months at issuance, with at least 12 months time to maturity for existing constituents. Bonds must be clearable through Clearstream, Euroclear or Hong Kong CMU.