Inside China’s FX broker clampdown

Chinese regulators are cracking down on foreign currency trading, going after brokers who have flouted restrictions by operating in a legal grey area. GlobalRMB investigates.

  • By Paolo Danese
  • 23 Mar 2018

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 20.18
2 Industrial and Commercial Bank of China (ICBC) 14.26
3 CITIC Securities 12.06
4 Agricultural Bank of China (ABC) 10.97
5 China CITIC Bank Corp 9.87

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 19-Jul-18 Beijing Enterprises Water Group China 3,000
2 19-Jul-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,500
3 13-Jul-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 2,000
4 13-Jul-18 Hang Lung Properties Hong Kong 1,000
5 28-Jun-18 China Water Affairs Group China 200

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 33.47
2 HSBC 19.33
3 Societe Generale 4.75
4 Bank of Taiwan 4.07
4 Cathay United Bank 4.07

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 21-Jun-18 Shimao Property Holdings China 1,200
2 19-Jun-18 Korea Development Bank (KDB) South Korea 1,750
3 07-Jun-18 Export-Import Bank of Korea (Kexim) South Korea 1,500
4 23-May-18 QNB Finance Qatar 600
5 16-May-18 First Abu Dhabi Bank PJSC United Arab Emirates 1,100