Asia Pacific

China's pursuit of more global financial connectivity is a tricky balancing act. Reforms are flowing thick and fast, but the final objective can be hard to fathom. The internationalisation of its currency involves many checks and balances — and as Elliot Wilson writes, there is little consensus on how far, and how quickly, the country wants to move.

The internationalisation of China's economy has long been seen in the context of allowing foreign investors increased access to domestic markets. But the most recent initiatives make clear that this access is a mere stepping stone to another destination. Unleashing Chinese investors onto the world stage is the bigger goal.

With Middle East countries becoming increasingly important trade partners for China, the Gulf region is rapidly assuming a central position in the investment ambitions of Chinese corporates. But the links go both ways, with MidEast companies also stepping up their operations in China. Chris Wright looks at the two regions' growing links.

The decision by the European Central Bank to start quantitative easing has changed the game for European borrowers who want to target an Asian investor base. More are opting to stay away as they seek cheaper funding opportunities at home, but Asia’s local currency markets, especially the offshore renminbi, are starting to get the attention of European financial institutions.

The battle to secure a reputation as a leading player in offshore renminbi services has never been more fierce. As China continues to encourage the spread of its currency throughout the world, the needs of corporates and investors are growing exponentially, and with them the need for increasingly sophisticated advice. Asiamoney's fourth Offshore RMB Poll ranks the leading firms in this area, as Anthony Chan reports.

As part of this year’s Offshore RMB Poll, we surveyed participants on 12 of the most important topics related to the RMB’s global journey. About 1,000 responses were received for the questions, which ranged from assessments of the pace of internationalisation progress to the size of the RMB trading band. We present the results below.

Japan’s domestic debt market has long proven to be one of the most resilient in the world, backed by an army of institutional investors that have a clear preference for buy-and-hold strategies and familiar credits. That resilience was put to the test at the end of last year, after Moody’s announced that it had downgraded the sovereign. Matthew Thomas reports.

China New Town Development is looking to tap the dim sum market with its inaugural international bond and started gauging investor interest through a series of meetings from April 23.

The International Finance Corporation (IFC) is working with the China’s National Association of Financial Market Institutional Investors (NAFMII) to smooth out technical issues preventing foreign issuers from tapping the domestic bond market.

Shenzhen Qianhai Financial Holdings has successfully completed its maiden outing in the offshore renminbi (CNH) market. A good window, strong government link and a credit enhanced structure all helped the debutante achieve both its size and pricing goals.

China New Town Development is looking to tap the dim sum market with its inaugural international bond and will be gauging investor interest through a series of meetings starting on April 23.

China’s parliament began a sweeping review of its Securities Law on Monday, with amendments that could pave the way for a long-awaited overhaul of regulations that have been in place since 1999.