Asia Pacific

In this round up, China records a trade surplus in July that exceeds expectations by a large margin, the central bank reviews the monetary policy from the second quarter and sets a direction for the rest of the year, and the finance minister says more than half of the proceeds from China’s Rmb1tr Covid-19 themed ‘special treasury bonds’ are already in use.

In this round-up, China and the US will examine the progress made from the phase one trade deal, the Chinese foreign minister says a ‘new Cold War’ is not what Beijing wants, and a pair of executive orders by president Donald Trump will ban US transactions involving WeChat and TikTok’s parent companies.

Dollar bonds sold by a number of Philippine issuers in the past two months have dipped in the secondary market, as a combination of too much supply too quickly and tight pricing puts pressure on the deals.

Hong Kong-listed Shanghai Henlius Biotech has won approval from the Mainland securities regulator to sell a chunk of new shares.

The Vietnam subsidiary of Taiwanese leasing and financing firm Chailease Finance Co has boosted its loan size to $60m.

BMW Finance, a subsidiary of German carmaker BMW, sealed a Rmb500m ($72m) three year dim sum bond on Thursday. It was the first publicly sold offshore renminbi trade by a corporation since November last year.

China’s Excellence Commercial Property and Facilities Management Group is preparing to launch its Hong Kong IPO this month, according to a source close to the deal.

Chinese local government financing vehicle Qingdao China Prosperity State-owned Capital Operation (Group) Co followed its peers to take an aggressive approach to pricing its $200m bond.

A consortium-led by Henderson Land Development is in talks with banks for a new loan to support its development of a residential project in Hong Kong.

Credit Suisse chief executive Thomas Gottstein has brought its investment bank back together but threatens to leave it with a diminished corporate finance business, David Rothnie reports.

Agricultural Development Bank of China’s Rmb4.3bn ($618m) dim sum bond this week brought in a record number of investors from outside of Asia, a senior treasury official told GlobalCapital China.

Alibaba Health Information Technology navigated concerns around its lofty valuations to pull off Hong Kong’s largest primary follow-on in five years, raising HK$10bn ($1.29bn) after boosting the size of the deal. The transaction closed with a bulging book, showing that demand for the healthcare sector is yet to peak. Jonathan Breen reports.