• MSCI China decision key for US investor interest, says Deutsche AM

    China has made progress in liberalising its capital account this year, but the moves have yet to win over US-based investors, Luke Oliver, head of exchange-traded funds (ETF) capital markets at Deutsche Asset Management (DAM) told GlobalRMB.

    • 26 Oct 2016
  • Q&A: The Working Group on US RMB Trading and Clearing

    The US took a step forward as a renminbi hub in September, when Bank of China New York branch was appointed as the local clearing bank. GlobalRMB met with a representative of the Working Group on US RMB Trading and Clearing to discuss new and future developments.

    • 18 Oct 2016
  • RMB round-up: Shanghai FTZ introduces e-warrants, Macau’s RMBi push, new RQFII quotas

    In this round-up, the Shanghai Free Trade Zone introduces electronic warrants to facilitate cross-border payments for commodity companies, Macau gets high level backing for its renminbi ambitions and new RQFII quotas for Thailand and Luxembourg. Plus, a recap of our coverage this week.

    • 14 Oct 2016
  • Off-cycle decision not on the cards for A-share inclusion

    The combination of newly announced MSCI China equity indices and a relaxation of renminbi qualified institutional investors (RQFII) rules last week has reignited discussions about A-shares inclusion in the MSCI Emerging Market index. While the moves are considered important, they do not warrant an off-cycle decision, say market participants.

    • 05 Oct 2016
  • Credit reforms needed as Panda bonds celebrate birthday

    The Chinese Panda bond market is enjoying plenty of attention, having just passed the one year anniversary of its comeback in September 2015. However, while market participants expect the exuberance to continue, they have called for credit reforms to diversify the investor base.

    • 04 Oct 2016
  • MSCI lauds China A-share reforms

    The chances of an off-cycle decision for A-shares to be included in MSCI’s Emerging Markets Index has increased after the index provider launched 20 new China equity indices on September 29 and praised Beijing’s recent reform efforts.

    • 30 Sep 2016
  • RMB round-up: ECB swap line, Swiss Re ups RQFII quota, CLS to provide RMB netting

    In this round-up, the European Central Bank renews its RMB swap line, Swiss Re increases its RMB qualified foreign institutional investors (RQFII) quota, and CLS facilitates netting for RMB foreign exchange transactions. Plus, a recap of our coverage this week.

    • 30 Sep 2016
  • No big bang for RMB in SDR

    In just a few days, the renminbi will be officially included in the International Monetary Fund’s Special Drawing Rights basket — a move widely seen as a validation of the currency’s internationalisation. But the actual impact of the development on fund flows is expected to be limited, market participants told GlobalRMB.

    • 29 Sep 2016
  • RMB round-up: QDII on standby, Vanguard’s A-shares transition, Malaysia adds RMB bond depository

    In this round-up, Chinese regulators have further delayed any expansion of the qualified domestic institutional investor, Vanguard has completed its transition to a FTSE index that includes A-shares, and Malaysia’s new payment system adds support for RMB debt securities. Plus, a recap of GlobalRMB’s coverage this week.

    • 23 Sep 2016
  • RMB round-up: More FTZs in the works, RMB bond yields converging, London continues RMB push

    In this round-up, China is keen to expand FTZ sphere, yield differential continues to narrow between offshore and onshore bonds, and London reiterates desire to promote RMB internationalisation. Plus, a recap of our coverage this week.

    • 15 Sep 2016
  • Malaysia set to break RQFII silence

    It has been 10 months since Malaysia received its renminbi qualified institutional investor (RQFII) allotment from China yet not a single institution from the southeast Asian country has been able to attain a licence. However, the lack of progress is about to end with several market participants telling GlobalRMB they are confident the first RQFII licence could be awarded by the end of the year.

    • 14 Sep 2016
  • RQFII rules relaxed but MSCI challenges remain

    The quota system under the RMB qualified foreign institutional investor (RQFII) scheme has undergone a total revamp, the Chinese regulators announced on September 5. While the rules represent a further harmonisation of RQFII and QFII schemes, market participants still see obstacles to Chinese assets entering global indices.

    • 07 Sep 2016
  • RQFII rules revised, official institution quotas scrapped

    The State Administration of Foreign Exchange (Safe) revised the rules for RMB qualified foreign institutional investors (RQFII) seeking quotas, making allowances proportional to overall assets. In addition, all official institutions can now invest under RQFII with no quota limits, the regulator announced on September 5.

    • 05 Sep 2016
  • HSBC: Shenzhen Connect to ignite A-share foreign ownership

    HSBC’s head of Hong Kong/China equity research Steven Sun said in a media briefing on Monday that the impending launch of the Shenzhen Hong Kong Stock Connect scheme is likely to trigger a huge increase in the foreign ownership of Chinese stocks.

    • 30 Aug 2016
  • Shenzhen Connect: weighing up the changes

    The approval of the Shenzhen-Hong Kong Stock Connect came with a number of changes to the overall structure of the cross-border investment scheme. Markets are now debating the appeal and challenges of the new set-up.

    • 17 Aug 2016
  • Enter the dragon: China unveils unrestricted CIBM access list

    Six foreign investors have become the first to gain unrestricted admission to the China interbank bond market (CIBM), according to a recently published list.

    • 15 Aug 2016
  • RMB round-up: China eases FTZ rules, OTC Clear to clear USDCNH CCS

    In this round-up, China eases rules on foreign investment in the free trade zones (FTZ) and OTC Clear receives approval to clear CNH cross currency swaps (CCS). Plus, a recap of GlobalRMB’s top stories this week.

    • 22 Jul 2016
  • Brexit’s RMB factor: silver lining wanted

    In the immediate aftermath of the Brexit vote, London’s loss of its status as leading RMB hub in Europe seemed highly likely, a turn of events that left China and the UK to figure out how to move forward from the “golden era” they had on just ushered in. But a more nuanced picture is now starting to emerge.

    • 22 Jul 2016
  • WFOEs weigh up China’s private fund rules

    China is continuing its push to establish the renminbi as an investment currency by opening up its private fund industry to wholly foreign-owned firms. While this is likely to spark plenty of interest, market participants said foreign asset managers need to be ready to launch even before registering for a licence.

    • 15 Jul 2016
  • Small print won’t spoil CIBM party

    With the first institution officially through the door of the new China interbank bond market (CIBM) access scheme, market participants are now scrutinizing the CIBM rules and how they will play out. The outlook is positive but investors should beware the small print.

    • 07 Jul 2016
  • Elusive Shenzhen Connect a signal of China’s reform ambitions

    It has been mooted for months but the Shenzhen-Hong Kong Stock Connect remains elusive with little detail on when the scheme will launch. But instead of being too overly fixated on timing, market participants said the focus should instead be on the scheme’s potential impact and the further liberalisation of China’s securities market.

    • 05 Jul 2016
  • RMB starting to challenge global monetary order, says think tank

    China is working hard to delivering on the promise of creating a multicurrency, global monetary system despite the difficulties in challenging the dollar’s status, according to an annual report by the think tank Official Monetary and Financial Institutions Forum (OMFIF) published on June 30.

    • 04 Jul 2016
  • Which city could steal London’s RMB crown?

    The outcome of the Brexit referendum has cast a shadow over London’s ability to maintain its status as Europe’s foremost RMB business hub. In this lowdown, GlobalRMB pits three other European capitals – Frankfurt, Luxembourg, and Paris – against the City as the most likely contenders for Europe’s RMB crown.

    • 30 Jun 2016
  • Asia scrambles in wake of Brexit call error

    Asian markets went to sleep on Thursday confident that the UK would still be part of the European Union the following morning and that business would go back to normal. But the UK’s public defied expectations and voted to leave the EU, forcing Asia bankers to completely rethink their plans.

    • 24 Jun 2016
  • RMB round-up: new China bond ETF, HKEX readies for Shenzhen Connect, RMB-KRW direct trading

    Brexit is here, and so is our round-up! This week: Fullgoal Asset Management launches its first RMB ETF in Europe, the Hong Kong Exchange runs further Shenzhen Connect testing, and China announces direct trading of the RMB against the Korean won. Plus, a recap of our coverage this week.

    • 24 Jun 2016
  • China aims for CNH control via onshore banks

    The People’s Bank of China said on Tuesday it is contemplating the ‘orderly participation’ of commercial banks to trade in the offshore renminbi market. On paper, the proposed move seems to be a further opening up of its FX market. However, market participants say Beijing’s true aim is to exert greater influence on the CNH and maintain the stability of the renminbi.

    • 24 Jun 2016
  • China ponders MRF expansion to Europe

    The Mutual Recognition of Funds (MRF) scheme has had a relatively slow start, but Chinese regulators are said to be looking at Luxembourg to expand the scope of the progamme, GlobalRMB has learned. But difficulties abound in bringing the project to reality.

    • 23 Jun 2016
  • The next struggle: Chinese bonds into global indices

    The recent opening of the China interbank bond market (CIBM) gives many global investors the widest access to the onshore fixed income market so far. Yet the entry of Chinese bonds into global indices remains a tricky proposition, according to market participants.

    • 21 Jun 2016
  • Clearstream confirms CIBM link plans

    Clearstream has confirmed that it is working with the Chinese authorities to establish a link between offshore investors and the China interbank bond market (CIBM). The firm also said it will boost its Stock Connect capabilities from July 4.

    • 20 Jun 2016
  • RMB round-up: Korea deposits wane, trade settlement picks up, BlackRock launches US A-shares ETF

    In this round-up, South Korea’s RMB deposits drop to near-zero, South African rand starts direct trading with RMB, and BlackRock launches its first US-listed physical A-shares fund. Plus, a recap of GlobalRMB’s coverage this week.

    • 17 Jun 2016
  • MSCI outcome surprises major investment banks

    Markets may have shrugged off MSCI’s decision not to include A-shares in its latest review but it proved to be more of a shock to some of the major investment banks which had forecast inclusion as the most likely outcome.

    • 17 Jun 2016
  • Competitive clauses trip up A-shares inclusion

    Restrictions on launching A-share linked financial products is one of the remaining hurdles for Chinese equities joining the MSCI. But as solving the issue will require China to relinquish more capital controls, there is unlikely to be a swift conclusion.

    • 16 Jun 2016
  • A-shares: All eyes on repatriation

    MSCI has once again highlighted the inability for foreign investors to move money freely in and out of China as a reason for leaving A-shares out of its Emerging Market Index. While the world’s second largest economy has moved quickly to reform other parts of its financial sector, market participants are divided about whether China will budge on capital controls.

    • 16 Jun 2016
  • MSCI’s A-shares decision: the truth hurts

    China’s efforts to meet MSCI’s demands for index inclusion proved to no avail with the firm rejecting A-shares for a third time. No doubt Beijing is miffed, but MSCI has good reasons to hold off for now.

    • 15 Jun 2016
  • The lowdown: MSCI's A-shares 2016 review

    Index firm MSCI said on June 14 that it was once again delaying the inclusion of Chinese A-shares in its emerging market index. Here is GlobalRMB's quick guide to what you need to know.

    • 15 Jun 2016
  • Spurned: MSCI delays A-share inclusion

    Index provider MSCI has surprised markets by once again delaying the inclusion of A-shares in its Emerging Markets index. While some progress has been made, China still has more work to do to tackle concerns around repatriation and restrictions on launching financial products linked to onshore exchanges, the firm said on June 14.

    • 15 Jun 2016
  • CIBM draws first foreign entry post rule relaxation

    China has registered the first foreign participant to its interbank bond market following its much publicised rule relaxation in February with UK asset manager Insight Investment first across the line on Monday.

    • 14 Jun 2016
  • Frankfurt-Shanghai Connect in the works, says CEINEX

    The China Europe International Exchange (Ceinex) is working with stakeholders on a cross-continental Stock Connect initiative, in a competing bid to plans by the London Stock Exchange, Ceinex's CEO told GlobalRMB.

    • 14 Jun 2016
  • Investors pressing for CIBM access, says StanChart

    Investors are lining up to access China via the new interbank bond market (CIBM) scheme, according to survey published by Standard Chartered (StanChart). But other schemes, such as the Stock Connect, are also seeing growing popularity.

    • 13 Jun 2016
  • US finally embraces RMB with RQFII quota, clearing

    The news that the US is to receive a Rmb250bn investment quota has been greeted as a welcome, if long overdue, development. Plans are also underway to set up a renminbi clearing system in the US, but the challenge will be convincing the country’s corporates to use the currency.

    • 08 Jun 2016
  • Yes, no, maybe: A-shares MSCI inclusion foxes investors

    While opinions range on how appropriate it will be for MSCI to go ahead with the inclusion of A-shares into its global benchmarks, the index provider has been giving greater space to US-listed Chinese stocks. But despite the decision on A-shares being just over a week away, market participants are still weighing the pros and cons.

    • 07 Jun 2016
  • RMB liquidity still a roadblock for markets

    Efforts to deepen RMB liquidity in offshore markets have struggled so far, despite the currency’s growing popularity for trade and investment purposes. Yet, it is clear that the success of the currency on a global scale will rely on deepening liquidity and the financial infrastructure that supports it.

    • 03 Jun 2016
  • Don’t count RQFII out yet

    The RMB qualified foreign institutional investor (RQFII) scheme has been instrumental in putting offshore RMB liquidity to work since its launch in 2011. But despite the recent widening of market access raising questions about the scheme’s rationale, it continues to appeal to international asset managers wanting access to China.

    • 02 Jun 2016
  • Welcome, you are now entering China

    China’s efforts to promote the renminbi have been focused on getting the currency out into the world. But since last year there has been a noticeable shift, with Beijing ratcheting up attempts to entice the world into its domestic markets. A new phase of renminbi internationalisation has begun, writes Carrie Hong.

    • 30 May 2016
  • A-shares: coming to an index product near you

    Index providers are once again discussing the potential inclusion of A-shares with global investors. But despite the best efforts by China’s regulators to ready the country’s financial system, market participants remain divided about whether recent steps go far enough, writes Paolo Danese.

    • 30 May 2016
  • Shanghai exchange answers MSCI stock suspension doubts

    The Shanghai Stock Exchange (SSE) published guidelines for future stock suspensions by mainland-listed companies, removing another roadblock to the inclusion of A-shares in the MSCI indices.

    • 27 May 2016
  • HK Stars Index: Internal risks — the hidden company killers

    Internal governance related risks can easily total 2x-5x of the risk priced into companies by investors and executives, write Vivian Chow, William Cox and Mathew Garver.

    • 24 May 2016
  • CSRC ticks another box for MSCI A-shares inclusion

    The China Securities Regulatory Commission (CSRC) has confirmed that authorities will respect the beneficial ownership right of foreign investors, crossing another item off the to-do list for A-shares to be included global indices.

    • 23 May 2016
  • RMB round-up: May 6, 2016

    In this round-up, Hong Kong RMB deposits shrank further in March, southbound usage of the Shanghai-Hong Kong Stock Connect picked up, China's foreign exchange regulator granted four new RMB qualified foreign institutional investor (RQFII) quotas in April, and Singapore Exchange launched trading of derivatives under the new MSCI China Free Index. Plus, a recap of GlobalRMB's top stories this week.

    • 06 May 2016
  • RMB round-up: April 29, 2016

    In this round-up, London overtakes Singapore as an RMB hub, foreign ownership of onshore RMB assets picks up, QDII products see further growth, and the US and China plan June economic meeting. Plus, a recap of our top stories this week.

    • 29 Apr 2016
  • Clearstream, Euroclear set to be gateways to China bond market

    China is moving forward with plans to open an international bond marketplace in the Shanghai free trade zone (FTZ), with sources telling GlobalRMB that Euroclear is set to link the onshore platform with offshore investors. Separately, plans by competitor Clearstream to help global investors gain standardised access to the China interbank bond market (CIBM) are slated for an October launch.

    • 22 Apr 2016
  • Updated: BNP Paribas, S&P Dow Jones launch new A-shares index ahead of MSCI decision

    BNP Paribas and S&P Dow Jones Indices (SPDJI) launched a new index focusing on what it calls the “new China” economic sectors. A-shares, which could be included later this year in the MSCI emerging markets indices, make up a quarter of the new benchmark.

    • 22 Apr 2016
  • RMB round-up: April 22, 2016

    In this round-up, South Korea RMB deposits picked up, while Macau and Taiwan saw a slight contraction, BRICS NDB approved its first loans, Chinese and Russian regulators are expanding their co-operation agreements, and Euronext started providing market data directly to onshore investors in China. Plus, a recap of GlobalRMB's top stories this week.

    • 22 Apr 2016
  • Negative rates add to the attraction of RMB, say reserve managers

    Negative interest rate policies are pushing central banks to invest in emerging markets assets and currencies, according to a new survey sponsored by HSBC. The RMB, in particular, has seen a rapid growth in popularity over the past few years.

    • 19 Apr 2016
  • Main China risk for asset managers is missing the boat, says Z-Ben

    Global fund managers who can set up their China business around opportunities in both onshore and cross-border flows will be best placed to take advantage of China’s ongoing opening of its capital account, according to Z-Ben Advisors.

    • 18 Apr 2016
  • More steps taken towards QFII and RQFII merger

    The recent reforms to liberalise China inbound investments have reignited discussions about a merger of the qualified foreign institutional investor (QFII) scheme with the RMB QFII (RQFII) initiative. News emerging today suggests regulators are keen to move forward with the harmonisation of existing rules.

    • 12 Apr 2016
  • Chinese reforms still keep foreign hedge funds at arm’s length

    The broad liberalisation of access to the China interbank bond market (CIBM) announced in February has been given the thumbs up, but hedge funds keen to have a more direct route into the Chinese market face a complex landscape, with the country’s regulators still treating the industry with suspicion.

    • 06 Apr 2016
  • RMB round-up: April 1, 2016

    In this round-up, MSCI announced that its review of A-shares is underway, eight new institutional investors received RQFII licenses in 2016, Hong Kong saw further falls in RMB deposits and cross-border RMB trade settlement, and Bank of China saw two RMB internationalisation indices drop recently. Plus, a recap of our top stories this week.

    • 01 Apr 2016
  • New FTSE index marks further step towards A-share inclusion

    Index provider FTSE Russell announced on Wednesday a new index which combines for the first time the China A-shares and Hong Kong-listed H-shares of the 50 largest Chinese companies.

    • 30 Mar 2016
  • Is cyber safety the biggest risk for investors?

    Cyber risk can take billions off a company's bottom line and valuation. Vivian Chow, William Cox and Mathew Garver explain how investors can take account of the risks.

    • 22 Mar 2016
  • QDLP quotas halted, but scheme still open for business

    The qualified domestic limited partnership (QDLP) scheme was reported to be the latest victim of attempts by the Chinese authorities to stem outflows. Market participants, however, deny the scheme has been shut down.

    • 11 Mar 2016
  • RQFII still holds appeal for French asset manager

    China’s decision to provide easier access to its bond market for foreign asset managers has not diminished the value of the renminbi qualified foreign institutional investor (RQFII) scheme, according to Matthieu Bailly, CEO at Octo Asset Management.

    • 11 Mar 2016
  • China to publish final rules on bond access scheme in two weeks, says StanChart

    Chinese regulators are set to soon release official guidelines on the new scheme liberalising access to the China Interbank bond market (CIBM), according to Standard Chartered (StanChart). In the meantime, more details of how the scheme will work have come to light.

    • 08 Mar 2016
  • HKEX's Li: Bond Connect to be index, derivatives springboard

    Bond Connect is one of the key schemes of the Hong Kong Exchange Group (HKEX) as it embarks on an ambitious plans to act as a gateway between China and the rest of the world. The programme will act as a gateway for financial institutions who don’t want direct access to China’s bond market as well as a launch pad for indices and derivative products, said chief executive Charles Li.

    • 03 Mar 2016
  • China's bond market: The $6tr opportunity?

    With foreign ownership of Chinese bonds still at very low levels, the decision to open China’s interbank bond market (CIBM) could truly alter global investment strategies. But, at least for now, the devil will be in the details, with analysts saying that foreign ownership is unlikely to surge in the short term.

    • 01 Mar 2016
  • With G20 looming, still little clarity on RMB outlook

    China is hosting the G20 meeting this week in Shanghai and the question about the path ahead for the renminbi is front and centre. But, despite subdued volatility in the currency following the Chinese New Year holiday, the picture remains as muddled as ever.

    • 26 Feb 2016
  • RIP RQFII? PBoC drops quotas for bond market access

    The People’s Bank of China (PBoC) has flung open the doors to China’s bond market by allowing almost all types of foreign financial institutions and asset managers to directly invest in the onshore inter-bank bond market without a quota. The move is a positive one for capital markets liberalisation but leaves a question mark over the future of schemes like QFII and RQFII.

    • 24 Feb 2016
  • What's in store for RQFII?

    The RMB qualified foreign institutional investor (RQFII) programme has been a runaway success, expanding to sixteen jurisdictions and over 150 institutions in just five years since launch, quickly catching up to the popularity of sibling programme QFII. Yet, to retain its appeal amid market volatility and the evolution of competing investment channels, it may be time for RQFII to revamp.

    • 22 Feb 2016
  • Outside, but increasing chance of free floating RMB: Nikko AM

    The question of where next for the renminbi continues to be the subject of fevered speculation and speculators as China spends billions to support the currency. The most likely scenario is that China will do more to curb capital outflows, but there is a growing possibility it could allow a free float of the currency, according to the senior investment team at Nikko Asset Management.

    • 19 Feb 2016
  • Manulife AM: How to invest in a weakening RMB

    Confidence in holding RMB assets may have hit rock bottom with no new incentives from regulators to boost the market, but Geoff Lewis, senior strategist at Manulife Asset Management, believes there are silver linings for those with an investment horizon of 12 months or more.

    • 18 Feb 2016
  • China's Safe relaxes QFII rules to encourage inbound investment

    China’s State Administration of Foreign Exchange (Safe) has relaxed the rules on the Qualified Foreign Institutional Investor (QFII) scheme in another attempt to encourage inbound investment by offshore market participants. The move comes at a time when China has shut down the majority of its outbound investment schemes.

    • 04 Feb 2016
  • QDII suspension adds salt to wounded China outbound investment

    The Qualified Domestic Institutional Investor (QDII) investment scheme has become the latest cross-border channel to be shut down by the Chinese regulators as they scramble to control China’s capital outflows.

    • 03 Feb 2016
  • MSCI to delete closely held HK stocks

    US-based index provider MSCI will exclude Hong Kong listed securities with a high ownership concentration from its Global Investable Market Indexes (GIMI), it said in a statement on Monday.

    • 02 Feb 2016
  • Vanguard surges in RQFII rankings

    The Australian subsidiary of US asset manager Vanguard received an additional Rmb20bn ($3.03bn) quota from the State Administration of Foreign Exchange (Safe) on January 27, making the firm the second largest RMB qualified foreign institutional investor (RQFII) globally.

    • 29 Jan 2016
  • The lowdown: China investment quotas

    Do you know your RQFII from your RQDII? Worried you should have got a QDII2 instead of a QDLP? The alphabet soup of Chinese investment schemes can be hard to digest but thankfully GlobalRMB is here to provide a quick breakdown.

    • 29 Jan 2016
  • RMB to be stable in 2016 but CNH a ‘mistake’: CLSA’s Wood

    In a break from the consensus, CLSA’s equity strategist, Christopher Wood, said the renminbi will be stable this year against the new trade-weighted basket introduced by the central bank. However, he viewed the introduction of the offshore renminbi (CNH) as a mistake as shown by the huge amount of reserves spent to defend the currency.

    • 25 Jan 2016
  • There’s more to RMB deposit drop than devaluation

    The drop in offshore RMB (CNH) deposits in Hong Kong, and the further tightening of CNH liquidity due to the intervention of the Chinese central bank, is being touted as examples of how investors are ready to sell out of RMB assets. But a glance at liquidity trends across other RMB hubs reveals that the picture may be more nuanced.

    • 19 Jan 2016
  • HSBC GAM appoints new India CEO

    HSBC Global Asset Management has appointed Ravi Menon as its new chief executive officer of India, effective on February 1.

    • 18 Jan 2016
  • Do not adjust your set: time to buy China

    Volatility in Chinese equity and foreign exchange markets is spooking investors but the cheaper RMB and more reasonable valuations for A-shares might provide an ideal entry point for investment into the Mainland.

    • 14 Jan 2016
  • China-related ETFs gain popularity in Taiwan despite market volatility

    China’s A-share market may be experiencing huge volatility this year, but Taiwan investors, are gaining more access investing in Chinese companies as new ETF tracking the Chinese SMEs join the growing suite of ETF products on Taiwan Stock Exchange (TWSE).

    • 11 Jan 2016
  • A shares' MSCI inclusion coming in 2016 despite volatility, says Macquarie

    The Chinese circuit breaker mechanism shut down stock trading for the second time in just four days on January 7. Despite the 12% drop in the Shanghai Composite Index (SHCOMP) since end of 2015, Macquarie expects MSCI to finally green light A-shares inclusion for its popular global stock indices in June.

    • 07 Jan 2016
  • A-share drop could boost MRF southbound channel

    The sell-off in the A-share market on January 4 might well scare off Hong Kong investors from buying Chinese securities via the new Mutual Recognition of Funds (MRF) scheme, but retail investors in China might now have increased appetite for offshore investments available via the MRF’s southern channel, according to market participants.

    • 05 Jan 2016

Panda Bonds Top Arrangers

Rank Arranger Total Volume Rmb (m) No. of Deals Share % by Volume
1 Bank of China (BOC) 7,500 5 22.26
2 Agricultural Bank of China (ABC) 4,000 2 11.87
2 Everbright Securities 4,000 1 11.87
4 Industrial and Commercial Bank of China (ICBC) 3,500 2 10.39
5 HSBC 3,000 2 8.90

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Oct 2016
1 CITIC Securities 15,417.46 59 6.69%
2 Morgan Stanley 11,809.74 49 5.12%
3 GF Securities Co Ltd 11,402.65 45 4.95%
4 Deutsche Bank 8,930.26 36 3.87%
5 China Securities Co Ltd 8,697.57 46 3.77%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Oct 2016
1 HSBC 25,655.98 155 9.54%
2 Citi 24,170.03 132 8.99%
3 Bank of America Merrill Lynch 21,409.23 104 7.97%
4 JPMorgan 18,713.00 109 6.96%
5 Goldman Sachs 12,065.00 52 4.49%