China

In this round-up, total social financing (TSF) growth in July is below expectations due to a steep fall in new renminbi loans, the banking industry’s profit growth turns negative for the first half of 2020, and Baidu’s video unit iQiyi says it is under the scrutiny of the US securities regulator.

In this round-up, China produces a sanctions list in response to a similar move by the US, multinational companies raise concerns on US president Donald Trump’s executive order against Tencent’s WeChat, and Chinese telecommunications firms will be barred from taking part in India’s 5G trial.

Yuexiu Transport Infrastructure, a Hong Kong-listed red Panda issuer, returned to the renminbi market this week for a small Rmb500m ($72m) bond. The issuer wrapped up the deal after extending the bookbuilding period by half a day.

Yunnan Provincial Energy Investment Group Co added a dash of variety to bond supply from China’s local government financing vehicles, by selling a $300m dual-tranche deal that combined a senior unsecured portion with an unsubordinated perpetual.

Hong Kong-listed Summit Ascent Holdings, an investment holding company focused on operating resorts, is planning a rights issue worth HK$1.6bn ($206m).

Cigarette packaging producer Amvig Holdings has closed its HK$1.35bn ($174m) loan with seven lenders.

Troubled Chinese local government financing vehicle Beijing Haidian State-owned Assets Investment Group (Haidian SAIG) finally managed to sell a bond without mishaps on Wednesday. The trade is a win for the issuer, especially since it has been receiving the cold shoulder from the market since July, but the LGFV may need to address deeper-seated problems in future outings, said bankers. Rebecca Feng reports.

Ke Holdings sealed a $2.12bn IPO on the New York Stock Exchange this week, the largest US listing by a Chinese firm in more than two years, defying the shock caused by US sanctions against one of its largest shareholders, Tencent Holdings. Jonathan Breen reports.

Chinese delivery company Yunda Holding Co made its debut in the dollar market on Wednesday, raising $500m.

OneConnect Financial Technology Co, a Chinese technology-as-a-service platform, raised $324m this week from a larger than expected follow-on offering of its US-listed stock.

Chinese local government financing vehicle (LGFV) Shandong Guohui Investment Co used its leasing arm to return offshore for $200m on Wednesday.

Chinese real estate company Cifi Holdings (Group) Co returned to offshore renminbi bonds this week, raising Rmb1.2bn ($172.8m) from the biggest dim sum deal from a corporation in more than a year.