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GC Asia
IPOs
Baozun seals $428m Hong Kong secondary listing
Baozun, a Nasdaq-listed e-commerce solutions provider, raised HK$3.3bn ($427.5m) from its secondary offering in Hong Kong this week, wrapping up the deal on strong international demand.
24 Sep 2020
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Corp
Asia bonds hit roadblock as heavy supply continues
Weak investor sentiment, oversupply and aggressive pricing strategies hurt the Asian dollar bond market this week.
24 Sep 2020 -
IPOs
Chindata, Yalla roll out IPOs in volatile markets
Chinese companies Chindata Group Holdings and Yalla Group have kicked off their US IPOs, testing investor appetite at a time when sentiment is weak and major equity markets have taken a hit.
24 Sep 2020 -
IPOs
Yangtze Power launches Stock Connect listing in London
China Yangtze Power, a Chinese utility company, has launched its listing on the London Stock Exchange, becoming the third company to list in London through the London-Shanghai Stock Connect scheme.
23 Sep 2020
Bonds
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Asia bonds hit roadblock as heavy supply continues
Weak investor sentiment, oversupply and aggressive pricing strategies hurt the Asian dollar bond market this week. As issuers rushed to sell deals before China’s Golden Week holiday and the US presidential election in November, many were left with transactions that fell short of expectations or slumped in the secondary market. Morgan Davis reports.
24 Sep 2020 -
CMB battles difficult market for dual tranche trade
China Merchants Bank raised $700m from a dual-tranche transaction on Tuesday, marketed by two different overseas branches with two different structures. But the issuer ran into negative market sentiment that dented appetite for the deal.
23 Sep 2020 -
CDB Leasing sells first dollar tier two bond
China Development Bank Financial Leasing Co had to tackle questions from investors and weaker market conditions to sell the first dollar tier two bond from a Mainland leasing company.
23 Sep 2020
Securitization
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China reforms NPL ABS as bad loans rise
The People’s Bank of China has started to allow banks seeking quotas to sell non-performing loan securitizations to shift from the old approval-based system to a registration-based system, onshore bankers told GlobalCapital China this week. The reform is set to speed up the pre-issuance phase and ease banks’ increasing pressure to dispose of bad loans.
17 Sep 2020 -
Mercedes-Benz pierces through comparables in ABS return
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Mercedes-Benz readies second auto ABS this year
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Geely returns to auto ABS market for bigger deal
Loans/Equity
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Ant wins Shanghai approval for jumbo IPO
Ant Group is one step closer to launching its blockbuster dual listing in the Mainland and Hong Kong, after the Shanghai bourse gave its blessing to the Star market leg of the IPO.
21 Sep 2020 -
Updated: Ant clears up Alibaba ties, business model after SSE questions
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Geely Auto drives to Star board for secondary listing
Comment
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China bonds: transparency push a clear win
The Shanghai Clearing House’s decision to give bond issuers insight into the holders of their debt is a smart move. China has enough regulation; what it lacks is information.
08 Jul 2020 -
Chinese coupon cuts: A dangerous game
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China Reits are not for all
People & Markets
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China warns against slip in rating standards
Chinese rating agencies are facing increasing pressure, after the country’s securities association said it had found evidence of firms inflating ratings to win business. Addison Gong reports.
23 Sep 2020 -
Chinese regulator fines Luckin for unfair competition
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The week in review: Ant gets approval for Star IPO, central bank keeps LPR steady, Guolian Securities finds boost from Sinolink acquisition
FX
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In calling China a 'currency manipulator,' the US plays its Trump card
The US finally labelled China a currency manipulator this week, a day after the renminbi weakened to below the psychological level of seven against the dollar. With China clearly indicating its willingness to open a new front in the trade war, the stage is set for an increase in rhetoric between the two countries.
07 Aug 2019 -
The week in renminbi: Allianz gets green light for Wfoe, foreign bond investors receive more tax exemptions, PBoC Shanghai supports private enterprises
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China market round-up: foreign reserves drop, October exports climb, Singapore Exchange plans to help Chinese enterprises
Derivatives
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Banks kick off RMB interest rate options trading
A group of 23 banks and 12 securities houses completed 154 renminbi interest rate option (IRO) transactions worth Rmb12.8bn ($1.81bn) on Monday. The new derivatives product is viewed as a solid step for China’s interest rate reform.
24 Mar 2020 -
Safe eases onshore FX derivs hedging for foreign investors
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SGX partners up for Belt and Road indices
Exclusive Data from GlobalCapital China
Investment
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Oaktree Capital registers wholly owned unit in Beijing
US-based Oaktree Capital Management has become the first foreign asset management firm to set up a wholly owned subsidiary in mainland China.
18 Feb 2020 -
China grants Value Partners onshore advisory licence
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Chinese bankers eye foreign investors for micro loan ABS push
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US-China tensions key to market outlook: Aberdeen
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ChinaBond collaborates with international index provider for the first time
Cash Management
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ADB faces hurdles to RMB funding
The Asian Development Bank (ADB) is struggling to find the long term RMB funding it needs in both onshore and offshore markets, treasurers at the development bank told GlobalRMB at their head office in Manila.
07 May 2018 -
Cips expands hours, but Swift sees more work to do
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China in the Year of the Dog: FTZs are dead. Long live FTZs
