China

Fuyao Glass Industry Group, an automobile glass maker, has raised HK$4.33bn ($558.5m) after selling a chunk of new shares at the top of the marketed price range.

China’s Waterdrop, a health insurance and healthcare crowdfunding platform, has opened the book for an up to $360m New York Stock Exchange IPO.

In this round-up, US president Joe Biden identifies China as a key competitor, both the official manufacturing and services Purchasing Managers’ Index (PMIs) come weaker-than-expected this month, and regulators ask 13 financial technology companies including Tencent Holdings and ByteDance to examine their businesses and fix the problems.

Fosun International has sold off a block of Tsingtao Brewery’s Hong Kong-listed shares for HK$2.34bn ($301m).

Two Chinese government-linked companies raised a combined $600m in the offshore market on Thursday, ahead of the long weekend in China.

Beijing Enterprises Holdings battled weakened sentiment around Chinese state-owned enterprises to sell a $700m dual tranche transaction on Wednesday. The company was able to price a successful deal, but only after overcoming recent fears about Chinese issuers. Morgan Davis reports.

The Shanghai and Shenzhen stock exchanges have tightened rules for public bond issuance in China’s exchange market, releasing new guidelines that are likely to restrict supply from weaker issuers and deter investment holding companies, local government financing vehicles and real estate developers. Addison Gong reports.

The National Association of Financial Market Institutional Investors plans to launch sustainability-linked bonds (SLBs) in the onshore market, after releasing official guidelines on Wednesday.

The Asian Development dropped into the dim sum market on Wednesday to sell the first note from an SSA issuer in almost three weeks. Despite the recent absence of SSA names, the asset class is on pace for a record year.

BNP Paribas plans to expand its presence in China’s onshore capital market, having applied to the securities regulator to set up a securities company in the Mainland.

Chinese bike-sharing company Hello has set in motion a Nasdaq listing, aiming to raise at least $100m.

Kaisa Group Holdings closed a $500m bond this week, part of a liability management exercise.