Latest RMB regulation and policy news
China policy round-up: mini trade deal gets complicated, foreign banks and insurers welcome new rules, IMF lowers global GDP growth forecast
In this round-up, the phase-one trade deal between the US and China ran into problems, China relaxed regulations on foreign banks and insurers and the International Monetary Fund (IMF) warned slower global growth.
Foreign banks are eager to gain full control of their Chinese securities joint ventures, after the regulator said it was abolishing a cap on foreign ownership. But fierce competition and difficult onshore regulations mean it is a long, rocky road ahead. Rebecca Feng reports.
The week in renminbi: US and China reach starter deal, schedules set for lifting foreign ownership rules, Macau mulls offshore renminbi Nasdaq
In this round-up, China and the United States emerged out of a two-day trade talk with a “phase one” deal, China’s securities regulator set dates for further opening up of onshore financial markets and the Monetary Authority of Macau plans to launch a Nasdaq-like stock exchange for the offshore renminbi market.
China policy round-up: US and China begin crucial trade talk, finance ministry transfers more money into social security fund, state employees get new sanction rules
In this round-up, vice premier Liu He started a two-day negotiation in Washington DC, the Chinese Ministry of Finance transferred 10% of its stake in Bank of Communications into a state-run fund and the National People’s Congress released draft rules to regulate state employees’ public discourse.
The Securities Association of China (SAC) has told onshore securities houses to improve the quality of their research reports on Star Market companies. The move may help securities houses better price IPOs on the bourse, said bankers.
China policy round-up: China to buy US soybeans, MoF boosts social security fund’s status, Hangzhou companies welcome government reps
In this round-up, China and the US upped the ante on the rhetorical trade war, the Ministry of Finance transferred its shares in two state-owned banks to a national social security fund and the Hangzhou city government is sending 100 of its staff to private companies.
Chinese onshore perps rise in popularity, but small banks will struggle to find enough investor support
Chinese banks are increasingly selling perpetual bonds onshore, as attractive yields propel them to raise funds in the domestic market. But this avenue of recapitalisation is not open to all, with smaller mainland banks hobbled by lack of investor interest. Rebecca Feng reports.
China policy round-up: trade talks continue, PBoC leaves MLF rate unchanged, Shanghai to lure more foreign capital
In this round-up, deputy-level trade negotiators from China and the US have met, the People’s Bank of China left the medium-term lending facility rate unchanged and the Shanghai government issued more measures to attract foreign investment.
China’s move to remove the quota limits on the Qualified Foreign Institutional Investor (QFII) and renminbi QFII (RQFII) schemes could help in the long-term development of the country’s financial market. But this is not nearly enough. If the regulators want to see some serious change, they need to tackle two key hurdles facing foreign investors.
China policy round-up: China, US extend olive branches, CSRC plots more market opening, government tightens internet censorship
In this round-up, both China and the US offered signs of peace around trade, the China Securities Regulatory Commission (CSRC) rolled out 12 measures for further market reform and opening up, and the country’s top internet authority is tightening its control over online content.
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Latest news by market and league table performance
Panda Bonds Top Arrangers
|Rank||Arranger||Share % by Volume|
|1||Bank of China (BOC)||27.09|
|2||Industrial and Commercial Bank of China (ICBC)||12.86|
|3||China Merchants Bank Co||11.85|
|4||China Merchants Securities Co||9.09|
|5||Agricultural Bank of China (ABC)||5.51|
Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $b||No of issues||Share %|
|3||China International Capital Corp Ltd||9.66||56||5.83%|
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $b||No of issues||Share %|
|4||Standard Chartered Bank||16.13||163||4.59%|
|5||Bank of America Merrill Lynch||12.50||94||3.56%|
Asian polls & awards
Djamshid Kuchkarov, Uzbekistan
GlobalCapital China is pleased to invite you to participate in the GlobalCapital China Capital Market Awards 2019. Inaugurated last year under the GlobalRMB banner, the awards celebrate the accomplishments of the leading players in the renminbi debt capital markets, onshore and offshore, as well as key service providers.
GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, which reward the most impressive transactions and investment banks of 2019.
GlobalCapital has published the nominations for its Sustainable and Responsible Capital Markets Awards. The winners will be announced on September 17, at our Awards Ceremony in Amsterdam.
In response to requests from market participants, GlobalCapital has extended the closing date of its poll to determine the 2019 winners of its Sustainable and Responsible Capital Markets Awards. Market participants can now vote until July 26.