Ping An Bank, a subsidiary of Ping An Insurance, sold Rmb26bn ($3.84bn) in convertible bonds on January 21. A total of Rmb18bn was reserved for main shareholders and private placements. The remaining Rmb8bn for offline investors was subscribed 1,400 times, attracting a total of Rmb10.75tr in bids, according to results published by the issuer.
The demand broke the record of China Everbright Bank’s Rmb30bn convertible bond issuance in 2017, which was subscribed 113 times.
China’s state-owned firms had total revenues of Rmb58.8tr last year, a 10% growth
Among all state-owned enterprises (SOEs), central SOEs booked total revenues of Rmb33.9tr, a 9.8% growth from 2017. Local SOEs earned a total of Rmb24.9tr, a 10.4% increase.
Total profits of all SOEs before tax totalled Rmb3.4tr, a 12.9% growth. Among those, central SOEs accounted for Rmb2.04tr while local SOEs took home Rmb1.35tr.
Debt to asset ratio for all SOEs saw a 0.2% decrease from the year before to 64.7%.
Traiana, a provider of trade life-cycle and risk management solutions, collaborated with OTC Clearing Hong Kong, a counterparty established by Hong Kong Exchanges and Clearing (HKEX), to provide direct central clearing connectivity to the exchange, according to a Wednesday press release.
Traiana is a subsidiary of the Chicago Mercantile Exchange Group, an American financial market company operating an options and futures exchange.
With the new service, market participants can now access HKEX’s OTC clearing service to clear USDCNH and USDHKD FX forwards and swaps contracts via Traiana’s clearing hub.