Asia Pacific

The one thing that has sent European companies' valuations higher despite the eurozone crisis has been China, an expert tells Emerging Markets

Shocked by Fed Chairman Ben Bernanke's ambiguity over quantitative easing, global markets were also hit by bad Chinese factory data showing a weaker outlook

Westpac became the third issuer in less than a week, and the 10th this year, to tap the US dollar covered bond market. After mandating joint leads for a $1.25bn transaction on Wednesday the deal was priced at the tight end of guidance at 35bp over mid-swaps, which was the tightest five year print in dollars so far this year.

In this roundup of offshore renminbi news, Taiwan allows lifers to invest in renminbi products, Safe grants new RQFII quotas and J.P. Morgan helps client execute cross-border renminbi loan.

The newly formed China Railway Corporation’s lack of clarity to whether its upcoming maiden renminbi bond will be government-backed calls the need for investors to price in potential risks, say experts.

Participants in the G20 meeting in September will receive proposals to kick-start a special fund for budding infrastructure projects, according to the head of a special task force

Newly-introduced renminbi wealth management products in Qianhai will likely have quotas attached, limiting the shifts of liquidity in and out of the economic zone, says the bank.

Taiwanese regulators are making gradual efforts to develop its bao dao bond market, but the need for more foreign participation and removal of withholding tax policy is important for its long-term growth.

The UK bank has been voted the best provider of offshore renminbi products and services for the second time in a row, according to an increased number of corporates, financial institutions and investors.

Fantasia Holdings Group and Powerlong Real Estate Holdings both managed to price three year dim sum deals on May 20, underscoring demand for offshore renminbi bonds but also raising questions over whether the market is becoming too saturated with high yield supply.

Resource-rich Kazakhstan has changed a lot in the past 20 years. But more needs to be done to cut dependence on fossil fuels, writes the EBRD's Janet Heckman