Latest RMB People & Markets news

  • RMB round-up: IFFO appoints B&R partners, RMB vol drives futures, new RQFII quotas

    In this round-up, the Infrastructure Financing Facilitation Office appoints the first group of partner entities, RMB depreciation boosts trading activity in FX markets, and the RMB qualified foreign institutional investor scheme adds two participants in October. Plus, a recap of our top stories this week.

    • 10:15 AM
  • Seven new countries ‘cross the RMB river’, says Swift

    The Society for Worldwide Interbank Financial Telecommunication’s (Swift) latest RMB tracker shows that during the last two years, seven new countries are using the renminbi for more than 10% of their direct payments with China and Hong Kong.

    • 04:30 AM
  • Finding opportunities along the Belt and Road

    Ever since it was announced by Chinese president Xi Jinping three years ago, the Belt and Road Initiative has been one of the most talked about policy strategies. While a level of scepticism remains, firms are starting to see opportunities emerge from the China-led initiative.

    • 27 Oct 2016
  • HKMA boosts CNH liquidity in time of need

    The Hong Kong Monetary Authority (HKMA) expanded the group of key offshore RMB (CNH) liquidity providers and revised arrangements for its CNH facility on October 27. The move comes at a time of greater downward pressure on the RMB, increasing the possibility of more interventions by China’s central bank.

    • 27 Oct 2016
  • StanChart Mulan piques Chinese FIG interest

    In the nascent market for special drawing rights (SDR) denominated bonds, known as Mulan bonds, Standard Chartered (StanChart) managed to increase onshore investor interest in the first deal by a commercial lender in China.

    • 26 Oct 2016
  • 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
  • RMB round-up: Clearstream launches China bond link, US banks vie for clearing role, CCB Tokyo enters China FX market

    In this round-up, The BRICS bank announces its lending target for the next year, two US banks compete for RMB clearing role in New York, and China Construction Bank Tokyo gets admitted to the onshore foreign exchange market. Plus, a recap of our coverage this week.

    • 21 Oct 2016
  • Moscow preps Bond Connect launch

    Plans abound to connect China’s bond market with offshore counterparts but they have had little success until recently. Now Russia’s National Settlement Depository (NSD) is close to launching a link in the first half of 2017, Eddie Astanin, chairman of the executive board, told GlobalRMB.

    • 19 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
  • US leaves China off currency manipulator list

    The US Treasury Department has maintained the view that China is not a currency manipulator in its second report to the congress on the foreign exchange policies of its major trading partners.

    • 17 Oct 2016
  • Exchanges kick off roadshows for Shenzhen Connect

    Preparations for the Shenzhen-Hong Kong Stock Connect are in full swing as the Hong Kong and Shenzhen stock exchanges embark on international roadshows ahead of its expected November launch.

    • 14 Oct 2016
  • Renminbi heading towards new price barriers

    There has been plenty of market attention this week on the movement of the onshore renminbi with China resuming normal service following the end of the Golden Week holidays. While the CNY did break through the psychological Rmb6.7 barrier against the US dollar, more volatility is expected thanks to a strengthening greenback.

    • 12 Oct 2016
  • Capital controls continue to impede China's FTZ progress

    It has been three years since China launched the landmark Shanghai Free Trade Zone with the area originally envisioned as the blueprint for further reforms throughout the country. While market participants are disappointed by the authorities’ continued grip on capital controls, they are happy with the overall direction of the FTZ scheme.

    • 11 Oct 2016
  • China regulatory fragmentation “dangerous", says IMF

    China’s reliance on a loose collection of market regulators has exacerbated market volatility, with the IMF welcoming plans for a total revamp of the financial markets institutional framework, according to Markus Rodlauer, former China mission chief and deputy director of the Asia and Pacific Department.

    • 11 Oct 2016
  • China ponders SDR substitution fund

    With the renminbi now officially part of the special drawing rights basket, China is set to push on with its goal of making the SDR a real-world investment and reserve asset. But the obstacles to that plan are daunting.

    • 04 Oct 2016

GlobalRMB Panda Bonds league table

Rank Arranger Total Volume Rmb (m) No. of Deals Share % by Volume
1 Bank of China (BOC) 7,500 5 21.01
2 Agricultural Bank of China (ABC) 4,000 2 11.20
2 Everbright Securities 4,000 1 11.20
4 Industrial and Commercial Bank of China (ICBC) 3,500 2 9.80
5 HSBC 3,000 2 8.40

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 26-Oct-16 China Gas Holdings China 2,000
2 12-Oct-16 The Wharf (Holdings) Hong Kong 4,000
3 10-Oct-16 KWG Property Holding Cayman Islands 8,000
4 29-Sep-16 Agile Property Holdings Cayman Islands 3,000
5 23-Sep-16 Yuzhou Properties Cayman Islands 3,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Total Volume Rmb (m) No. of Deals Share % by Volume
1 Credit Agricole 2,809 3 14.41
2 Bank of China (BOC) 2,631 3 13.50
3 HSBC 2,100 3 10.77
4 Standard Chartered Bank 1,700 2 8.72
5 DBS 983 3 5.05

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 25-Oct-16 ICBC Tokyo branch China 500
2 20-Oct-16 ICBC Sydney Branch China 1,200
3 08-Sep-16 Haikou Meilan International Airport Investment Ltd China 525
4 08-Sep-16 ICBC Singapore Branch China 1,600
5 02-Sep-16 Central American Bank for Economic Integration (CABEI) Honduras 1,000