Latest markets/regulation news
Europe’s banks continued to lose global significance, according to the Financial Stability Board’s 2018 list of global systemically important banks (G-SIBs), although Groupe BPCE was re-added to the list. The French bank says this will not affect its funding plans.
The week in renminbi: Individual investors can purchase local government debt, China and Russia tighten trade connections, Stock Connect celebrates fourth anniversary
In this round-up, wealthy Chinese individual investors now have access to local government bonds, Russian and Chinese leaders in the financial industry are meeting to strengthen mutual market access, and northbound trading volume via Stock Connect reached Rmb8.77tn.
China Exchanges Services Co (CESC), a joint venture between the Hong Kong, Shanghai and Shenzhen bourses, has launched an index to track the performance of Hong Kong-listed biotechnology companies.
China policy round-up: BRI still driven by Chinese policy spending, China-Singapore relations get a boost, UK renews RMB swap line
The Belt and Road Initiative is still bankrolled by Chinese government spending, China and Singapore upgrade their trade agreement, and the Bank of England renews a currency swap line with China.
China market round-up: Hedge fund waits for China reset, Bond Connect volumes are down, SGX launches China bond indices
Well-known hedge fund manager says China reset coming, Bond Connect volumes down 15% in October and Singapore Exchange launches a set of China onshore bond indices.
Ma Jun, a member of the People’s Bank of China’s monetary policy committee, has come out in favour of altering bank capital rules to give lower risk weights for green assets — which could be a sign the PBoC is close to adopting the policy. He calls on China to lead the way and argues there is evidence green assets are less risky.
Bond Connect investors and service providers are looking at further upgrades for the scheme following the recent move to allow block trading. At the top of the list is a desire among investors to increase their hedging options, which trading platform Tradeweb is working to deliver, the firm tells GlobalRMB.
Citi is looking to strengthen its solo operations in China at the same time as seeking a new partner for a majority-owned securities joint venture, GlobalCapital Asia understands.
The week in renminbi: Amex gets green light onshore, traders can use existing accounts for London Connect, SGX sees surging A50 futures trading
In this round up, American Express (Amex) becomes the first global credit card firm to receive an onshore RMB settlement licence, Chinese traders using the new London-Shanghai Stock Connect are not required to open new accounts, and the Singapore Exchange (SGX) sees a 91% annual growth in its China stock index futures.
China policy round-up: all eyes are on China’s private sector, CSRC improves stock suspension rules, State Council promises better business environment
State officials provide strong verbal commitment to private sector development, the China Securities Regulatory Commission promises more stringent stock trading suspension rules, and China’s State Council says it will enhance the domestic business environment for domestic and foreign companies.
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Latest news by market and league table performance
Panda Bonds Top Arrangers
|Rank||Arranger||Share % by Volume|
|1||China Merchants Securities Co||14.82|
|2||Industrial and Commercial Bank of China (ICBC)||12.96|
|4||Agricultural Bank of China (ABC)||8.10|
|5||China CITIC Bank Corp||7.20|
Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|5||China International Capital Corp Ltd||11,025.08||44||5.01%|
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|4||Bank of America Merrill Lynch||13,099.48||83||4.26%|
Asian polls & awards
In this third part of the GlobalRMB awards, we present our reasons for choosing the best issuers in the FIG, corporate and SSA categories — and praise the strong performance of one well-known foreign law firm.
In the final article on our GlobalRMB awards, we talk about the key innovation of the year and highlight the individual that has made the greatest contribution to the development of China’s cross-border capital markets.
Securities services was one of the most competitive award categories GlobalRMB had to decide this year. Our awards criteria demanded the near-impossible from participating banks: to beat the competition in the fast-changing China access scheme, while at the same time demonstrating a broad client base and the ability to be at the cutting edge of innovation.
In GlobalRMB's Best Bank Awards for China DCM, Standard Chartered wins for ABS and CNH, HSBC takes home the G3 Bond House Award, and Bank of China gets kudos as the Best House for Panda bond issuers.
GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, rewarding the most impressive transactions and investment banks of 2018.