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GC Asia
Bonds
Tahoe defaults as Vanke sets tough terms
China’s Tahoe Group has failed to repay a second domestic bond.
09.15 AM
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People & Markets
Luckin faces penalties as Chinese regulators step in
The Chinese Ministry of Finance and two other national regulators have concluded their investigations into fraud at Luckin Coffee.
09.00 AM -
Regulation & Policy
The week in review: China extends AM rule deadline, MoF to penalise Luckin, Ant faces possible antitrust probe ahead of listing
In this round-up, Chinese financial institutions are given another year to comply with new asset management rules due to the Covid-19 pandemic, Luckin Coffee will be punished by the Ministry of Finance for inflating its sales figures, and Ant Group faces a potential antitrust probe that could derail its upcoming jumbo IPO.
08.45 AM -
Corp
Tianjin court orders Tewoo restructuring
Chinese state-owned commodities trader Tewoo Group Co, which has been under financial pressure for more than a year, is facing a possible restructuring.
07.45 AM
Bonds
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Tahoe defaults as Vanke sets tough terms
China’s Tahoe Group has failed to repay a second domestic bond. The company has announced a potential share sale to China Vanke Co, but the deal will not be a bail-out ─ Vanke has made clear it will not take on the company’s debt.
09.15 AM -
Tianjin court orders Tewoo restructuring
Chinese state-owned commodities trader Tewoo Group Co, which has been under financial pressure for more than a year, is facing a possible restructuring.
07.45 AM -
Social bonds ‘come to the rescue’ during pandemic
Social and sustainability bonds have blossomed in Asia amid the Covid-19 pandemic, with debt bankers expecting more supply from the asset class for the rest of the year.
05.00 AM
Securitization
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China's Great Wall Motors sells auto ABS with international ratings
Tianjin Great Wall Binyin Automotive Finance, the funding arm of domestic carmaker Great Wall Motors, sealed its first internationally rated auto securitization deal on Thursday. The Rmb3.37bn ($481m) deal attracted decent demand from foreign investors.
10 Jul 2020 -
BMW sails through market volatility, seals second ABS
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Great Wall Motors readies first internationally rated ABS
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BMW slashes revolving period for new China ABS outing
Loans/Equity
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Neeq disappoints as debut shares tumble
A new scheme launched by China’s National Equities Exchange and Quotations (Neeq) got off to a poor start this week. Around two-thirds of the 32 companies listed on the ‘selection tier’ board fell on their trading debuts. That was a sharp contrast to the opening day of a local rival, the Shanghai Star board.
28 Jul 2020 -
Trafigura makes annual return to loans, eyes $1bn outing
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SMIC’s Star market shares soar on debut
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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Luckin faces penalties as Chinese regulators step in
The Chinese Ministry of Finance and two other national regulators have concluded their investigations into fraud at Luckin Coffee. They will now impose administrative penalties.
09.00 AM -
The week in review: China extends AM rule deadline, MoF to penalise Luckin, Ant faces possible antitrust probe ahead of listing
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China policy round-up: Politburo sets tone for H2 policies, Hong Kong bars 12 LegCo candidates, MoF tells governments to speed up bond issuance
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
