Asia Pacific

There is a rapidly forming view that China has given up on reform, given up on RMB internationalisation. The solution? Let the RMB float freely as promised, a radical shift in approach that would preserve China’s foreign exchange reserve and put the reform agenda back on track, says Saxobank.

The Republic of Indonesia has chosen five banks to work on a dollar sukuk to be sold in the first quarter of the year.

CLP Holdings, the larger of Hong Kong’s two electricity providers, is considering issuing a green Panda bond to finance its renewable energy projects, according to CFO, Geert Peeters.

Nehchal Khanna, a managing director at Morgan Stanley’s investment bank, is leaving the firm.

The Australian subsidiary of US asset manager Vanguard received an additional Rmb20bn ($3.03bn) quota from the State Administration of Foreign Exchange (Safe) on January 27, making the firm the second largest RMB qualified foreign institutional investor (RQFII) globally.

Société Générale has appointed Ashwan Malhotra as managing director in a bid to strengthen its client coverage in Asia Pacific.

South Korea’s Kookmin Bank issued its second ever covered bond this week, raising $500m from a five year note that was more or less a replica of its debut transaction.

The heir to Samsung Group has raised W382bn ($318.7m) by selling part of his holding in Samsung SDS, a subsidiary of the South Korean conglomerate.

HNA Group sealed a quick return to the bond market on Thursday with a $35m tap of its inaugural outing from last November.

In this round-up, Chinese premier Li discussed RMB foreign exchange volatility with IMF's Lagarde, the Asian Infrastructure Investment Bank formally launched, a new A-shares exchange traded fund launched in Hong Kong, while a survey found Hong Kong retail investors fear RMB volatility most for 2016, and Tajikistan activated its currency swap line with China. Plus, a recap of GlobalRMB's top stories this week.

Do you know your RQFII from your RQDII? Worried you should have got a QDII2 instead of a QDLP? The alphabet soup of Chinese investment schemes can be hard to digest but thankfully GlobalRMB is here to provide a quick breakdown.

The Indian government is seeking bookrunners for the divestment of shares in wholly-owned Cochin Shipyard via an IPO, issuing a request for proposals to banks on Thursday.