Latest RMB regulation and policy news
In this round-up, index provider FTSE Russell adds two new Chinese A-shares indices, the mutual recognition of funds (MRF) scheme sees sales of Hong Kong funds retreat in December, and the Hong Kong Monetary Authority adds nine partners to the Belt and Road-linked Infrastructure Financing Facilitation Office (IFFO). Plus, a recap of our coverage.
In the third and final part of our outlook on RMB internationalisation, industry experts address how the recent capital controls affect the diversification drive by Chinese investors, and how infrastructure upgrades, such as the prospect of 24-hour trading capabilities, could provide a much-needed to boost the RMB's global role.
Details of the long-awaited China-Hong Kong Bond Connect scheme are set to be unveiled soon by the Hong Kong Exchange (HKEX), providing a whole new asset class for Mutual Market Access investors.
There is little doubt the RMB had a tough 12 months. But despite the headwinds, China has managed to push through landmark reforms to the capital account and more initiatives are in store for 2017. In the first part of this outlook, market participants discuss how RMB internationalisation (RMBi) will benefit from opening up of onshore hedging products and the far-reaching impact of recently-established New York hub.
In the second part of the GlobalRMB’s outlook on renminbi internationalisation in 2017, market participants discuss the far-reaching impact of the recently-established New York hub.
RMB round-up: cross-border RMB trade collapses in 2016, China FX turnover remains dollar-centric, new China ETF launches in London
In this round-up, RMB-denominated cross-border trade settlement suffers a big setback in 2016, turnover in the Chinese interbank foreign exchange (FX) markets revolves almost entirely around dollar trades, and GF International launches a China A-shares fund on the London Stock Exchange. Plus a recap of our coverage.
RMB round-up: RMB surges against dollar, CNH futures set new trading record, Zhejiang FTZ gets going
The year started with plenty of excitement, as the RMB gained ground against the dollar in onshore and offshore markets, activity surged in RMB futures in Hong Kong, and the third batch of free trade zones (FTZ) opened for business. Plus, a recap of our coverage.
Welcome back and Happy New Year. While we were on a break, China revised its official trade-weighted currency basket, added two new RMB qualified foreign institutional investors (RQFII) and set stricter rules for the individual quota of foreign exchange (FX) purchases that reset on January 1.
In this round-up, China saw another sizeable drop to its foreign exchange reserves in November, the Shenzhen Connect saw subdued trading activity in its first four days, and Egypt signed its first currency swap line with China. Plus, a recap of our coverage this week.
The Luxembourg financial regulator has decided to allow Ucits funds registered in the country to enter the China interbank bond market direct access (CIBM Direct) scheme. The move is set to give yet another boost to China bond investments.
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Panda Bonds Top Arrangers
|Rank||Arranger||Share % by Volume|
|1||Bank of China (BOC)||18.01|
|3||Agricultural Bank of China (ABC)||10.59|
|5||Industrial and Commercial Bank of China (ICBC)||6.36|
Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Haitong Securities Ltd||1,602.34||9||13.94%|
|3||China Securities Co Ltd||1,440.03||7||12.53%|
|4||Bank of China||1,188.86||5||10.34%|
|5||Guotai Junan Securities Co Ltd||689.79||3||6.00%|
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
Asian polls & awards
China’s private banking industry is growing in leaps and bounds. High- and ultra-high-net-worth mainland customers are increasingly mobile, demanding best-in-class service from their financial providers. Banks are adapting to the changing world, rolling out innovative and sophisticated services to their high-end clientele. In recognition of China’s advances in the field, Asiamoney is proud to announce the winners of its awards for best mainland private banks for 2016.
Asia has taken its time in improving corporate governance standards, with experts agreeing on the need for broader action. But Taiwan and Hong Kong firms seem to be moving in the right direction, as shown in the results of this year's Asiamoney Corporate Governance poll. Paolo Danese reports.
Asiamoney is pleased to present its choices for Asia’s Best Managed Companies in 2016. In a year marked by political and economic upheaval, the region’s best firms and executives impressed on through a combination of factors including financial performance, innovation and strategic execution.
Analysts in Asia are used to dealing with dynamic and unpredictable markets but the events of this year provided a real test of mettle. Against a backdrop of global political upheaval and worsening economic outlook at home, the winners of Asiamoney’s 2016 Brokers Poll have proved they have what it takes to impress their clients.
Asia’s brokerages have needed to stay nimble in the face of volatile markets and changing regulation that has tested their industry. HSBC and CLSA are well placed to meet the challenge after coming out top in the Asiamoney Brokers Poll. Peter McGill reports.