In this special round-up on China’s annual Two Sessions parliamentary meeting, the central government sets a conservative annual growth target for the Chinese economy in 2021, signals a modest tightening in fiscal and monetary policies, and plans to broaden regulatory oversight of the fintech sector.
In this round-up, smaller Chinese firms see the slowest growth in manufacturing and services activity since mid-2020, the head of the Chinese banking and insurance regulator is wary of bubbles bursting in foreign markets, and the onshore sale of the so-called ‘carbon neutrality bonds’ moves from the interbank market to the smaller exchange market.
Sinic Service (Holdings) is gearing up for a listing in Hong Kong, adding further momentum to the IPO market of Chinese property management service providers.
Genius Auto Finance Co priced its first auto ABS outing of the year under the Generation series on Thursday.
Genius Auto Finance Co priced its first auto ABS outing of the year under the Generation series on Thursday. It sold the senior class A1 tranche of the Rmb4.7bn ($726.8m) transaction at a negative spread to the onshore pricing benchmark and inside a comparable trade from this week.
China Everbright Bank switched things up for its $550m deal this week, by opting for a fixed rate note rather than the floating rate bonds it has favoured more recently.
The China Securities Regulatory Commission (CSRC) has finalised new rules for the sale of corporate bonds, a move that could boost the attraction of the exchange market while shaking up the operations of credit rating agencies. Addison Gong reports.
Genius Auto Finance Co priced its first auto ABS outing of the year under the Generation series on Thursday. It sold the senior class A1 tranche of the Rmb4.7bn ($726.8m) transaction at a negative spread to the onshore pricing benchmark and inside a comparable trade from this week.
Chinese regulators have made a long overdue move to reduce the number of boards at the Shenzhen stock exchange. That points to a greater commitment towards streamlining the country’s sometimes confounding capital markets.
Chinese regulators have made a long overdue move to reduce the number of boards at the Shenzhen stock exchange. That points to a greater commitment towards streamlining the country’s sometimes confounding capital markets.
In this round-up, smaller Chinese firms see the slowest growth in manufacturing and services activity since mid-2020, the head of the Chinese banking and insurance regulator is wary of bubbles bursting in foreign markets, and the onshore sale of the so-called ‘carbon neutrality bonds’ moves from the interbank market to the smaller exchange market.
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.
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.
US-based Oaktree Capital Management has become the first foreign asset management firm to set up a wholly owned subsidiary in mainland China.
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.
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GC Asia
