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GC Asia
IPOs
Ant makes history with $34bn listing on HK, Star exchanges
Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong.
29 Oct 2020
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Corp
Zhongyuan Yuzi pulls deal as Chinese LGFVs face tricky funding environment
Two Chinese local government financing vehicles (LGFVs) hit speed bumps in the dollar bond market this week amid rising volatility, as investors pushed back on the issuers’ attempts to get away with aggressive pricing.
29 Oct 2020 -
Corp
Chinese issuers dominate dollar bond market
A large number of issuers from Asia, the majority Chinese, tapped bond investors on Wednesday for fresh funds.
29 Oct 2020 -
Securitization
China Merchants nabs S&P rating in RMBS first
China Merchants Bank has sold its first mortgage-backed securitization (RMBS) with an international rating.
29 Oct 2020
Bonds
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Zhongyuan Yuzi pulls deal as Chinese LGFVs face tricky funding environment
Two Chinese local government financing vehicles (LGFVs) hit speed bumps in the dollar bond market this week amid rising volatility, as investors pushed back on the issuers’ attempts to get away with aggressive pricing. While one of the borrowers sealed its deal despite tepid demand, another was forced to scrap its transaction. Morgan Davis reports.
29 Oct 2020 -
Chinese issuers dominate dollar bond market
A large number of issuers from Asia, the majority Chinese, tapped bond investors on Wednesday for fresh funds.
29 Oct 2020 -
China Merchants nabs S&P rating in RMBS first
China Merchants Bank has sold its first mortgage-backed securitization (RMBS) with an international rating. Foreign demand helped with a smooth bookbuilding process, despite a weak market backdrop. Addison Gong reports.
29 Oct 2020
Securitization
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China Merchants nabs S&P rating in RMBS first
China Merchants Bank has sold its first mortgage-backed securitization (RMBS) with an international rating. Foreign demand helped with a smooth bookbuilding process, despite a weak market backdrop. Addison Gong reports.
29 Oct 2020 -
CMB debuts internationally rated RMBS
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Beijing Hyundai switches to revolver for auto ABS return
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Dongfeng Nissan returns to old structure for auto ABS
Loans/Equity
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Ninebot sets price for China’s first CDR listing
Xiaomi Corp-backed electric scooter maker Ninebot has set the issue price for its Rmb2.08bn ($309m) IPO on Shanghai’s Star market, the first offering of depository receipts in China.
16 Oct 2020 -
Sheng Ye seeks debut offshore RMB loan
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Shanghai greenlights Geely Auto’s Star IPO
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 lays groundwork for more climate financing, investment
China’s ecological and financial regulators have jointly published guidelines around climate change-related financing and investment.
28 Oct 2020 -
China policy and markets round-up: Fiscal revenue returns to growth, Sweden bans Huawei, S&P expands to exchange bond market
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China streamlines credit ABS registration
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
