China

In this round-up, China passes a law that will enable reciprocal measures against foreign sanctions, the US president signs an executive order lifting bans on Chinese applications, and the central bank will start quarterly evaluation of the green finance performance of major lenders.

Shanghai MicroPort MedBot (Group) Co, which designs and develops surgical robots, is getting ready to list on the Hong Kong Stock Exchange.

Chinese ride-hailing firm Didi Chuxing has publicly filed for what is likely to be a jumbo IPO in the US, putting in motion its founders’ plans to become a ‘truly global technology company’.

Bank of Communications Financial Leasing Co used a sustainability label for its new $500m three year bond.

Chinese local government financing vehicle Ganzhou Jiankong Investment Holding Group Co sold a $270m bond on Thursday.

Gangfeng Lithium Co, the world’s largest lithium metal supplier, raised HK$4.869bn ($628m) from a placement over just two hours of bookbuilding as investors flocked to the Chinese company’s deal.

Deutsche Bank has hired two former Barclays bankers to support its China business.

New bond issuance from local government financing vehicles in China has taken a beating recently, as Beijing hardens its stance on keeping the country’s ‘hidden debt’ problem under control. But the challenging times are likely just beginning, writes Addison Gong.

Agricultural Bank of China sold a multi-currency deal through its Hong Kong branch this week, raising $1.322bn.

WH Group has turned to banks for about $1.25bn to fund a share buy-back, as the world’s largest pork company takes advantage of attractive market conditions to raise a new loan. Unlike its acquisition fundraising eight years ago, which received plenty of criticism and pushback from lenders, the market’s response this time around is different — despite some initial confusion, writes Pan Yue.

Chinese property company Evergrande Group’s dollar bonds have plummeted in the secondary market, following news that regulators are scrutinising the borrower. The effect has been far-reaching — dampening sentiment for other high yield real estate bonds and putting both investment bankers and investors on guard. Morgan Davis reports.

Chengdu Quanyuantang Pharmacy Chain has started laying the foundation for its Hong Kong IPO, filing initial listing documents with the bourse this week.