Latest RMB regulation and policy news
China policy round-up: next round of trade talks scheduled, PBoC deputy governor discusses Panda bonds proceeds, Bank of China to issue first perp
In this round-up, Liu He will visit the US at the end of this month, Pan Gongsheng spoke at the China Bond Market International Forum and Bank of China plans to issue the first perpetual bonds in the domestic market.
The big three international rating agencies have all registered with Chinese regulators so they can join the country’s onshore credit rating industry, but none have started operations yet. Rebecca Feng investigates the reasons behind the holdup.
China’s State Administration of Foreign Exchange expanded the total available quota for the Qualified Foreign Institutional Investor (QFII) scheme, one of the country’s longest-standing capital markets access programmes. The move came before the upcoming further inclusions of Chinese securities in global investment indices.
China policy round-up: US-China three-day trade talks show seriousness, premier Li meets Elon Musk, small enterprises to enjoy lower tax rates
In this round-up, US-China extended the previously planned two-day trade talk to a third day, Li Keqiang met Tesla’s Elon Musk, and the state council rolled out lower tax rates for small and low profit businesses.
The National Association of Financial Market Institutional Investors (Nafmii) is gearing up to unveil new standards for the Chinese rating industry this year.
The week in renminbi: PBoC cuts RRR for banks, Shanghai-London Stock Connect further delayed, premier Li pays big banks a visit
In this round-up, People’s Bank of China (PBoC) cut the reserve requirement ratio (RRR) by 100bp, Shanghai-London Stock Connect likely postponed to late January, and Li Keqiang encourages big commercial banks to support the private sector.
China market and policy round-up: US and China set date for trade talks, PBoC tries to boost SME lending, Nafmii gets a new head
In this round-up, US and China agreed to hold trade talks in Beijing early next week, the central bank loosened the definition of small and medium enterprises (SMEs), and National Association of Financial Market Institutional Investors (Nafmii) appointed a new party chief.
In the first round-up of 2019, China’s economy slowed further in December, renminbi-denominated central bank reserves fell in the third quarter of last year, and the US and China exchanged some positive signals on trade.
The decision to further postpone the ETF Connect between China and Hong Kong offers an opportunity to improve the mutual recognition of funds (MRF) scheme. In a recent report, Ernst & Young and the Hong Kong Investment Funds Association offered the authorities some suggestions.
China policy round-up: Xi’s speech disappoints, PBoC back to open market operations, China lowers holdings of US Treasuries
In this round-up, Chinese president Xi Jinping’s speech at the celebration of China’s reform and opening up offered no concrete promises, the People’s Bank of China reopened the seven-day reverse repo after 36 days of suspension, and China dropped its holding of US government bonds for the fifth consecutive month.
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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||14.44|
|2||Industrial and Commercial Bank of China (ICBC)||11.65|
|3||Bank of China (BOC)||10.33|
|5||Agricultural Bank of China (ABC)||7.17|
Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Bank of China||754.84||3||8.86%|
|4||China International Capital Corp Ltd||721.75||3||8.47%|
|5||Guotai Junan Securities Co Ltd||687.65||4||8.07%|
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|4||Standard Chartered Bank||1,109.43||8||5.19%|
Asian polls & awards
In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out the Best Asian Investment Bank and the Best Investment Bank in the region for 2018.
In part three of our results announcements, we reveal the winning bond deals across a variety of categories. In addition, we also name the Best G3 Bond House, Best Local Currency Bond House, Best High Yield Bond House and the debut winner of the Best House for SRI Financing.
In part two of our results announcements, we reveal the winning equity deals and banks, including the Best Follow-on/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.
GlobalCapital Asia has spent the last two months talking to banks and their clients in a bid to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2018. We are pleased to begin our awards announcements in the loan market.
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.