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 15.61
2 Industrial and Commercial Bank of China (ICBC) 12.40
3 CITIC Securities 8.90
4 Agricultural Bank of China (ABC) 7.75
5 China CITIC Bank Corp 6.89

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 27-Nov-18 Daimler Germany 4,000
2 26-Nov-18 Beijing Enterprises Clean Energy China 2,800
3 15-Nov-18 Sun Hung Kai Properties Hong Kong 1,200
4 12-Nov-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,500
5 12-Nov-18 Shenzhen International Holdings China 4,700

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 30.97
2 HSBC 18.82
3 Societe Generale 3.85
4 Bank of China (BOC) 3.68
5 Bank of Taiwan 3.30

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 03-Dec-18 Huzhou Communications Investment Group China 500
2 22-Nov-18 Bank of China Tokyo Branch (BOC Tokyo) China 800
3 15-Nov-18 RusHydro Russian Federation 1,500
4 13-Nov-18 Bank of China (Hong Kong) (BOCHK) China 1,000
5 19-Sep-18 Agricultural Development Bank of China (ADBC) China 1,200