China

In this round-up, China’s economy shrinks for the first time since records started, exports and imports fall in March but rebound from recent lows, and the State Council will further develop the country’s capital markets.

In this round-up, China’s ambassador to the US said the two countries have been working towards implementing the trade agreement reached in January, and the UK’s foreign secretary said hard questions need to be asked about the Covid-19 pandemic.

China National Travel Service Group Corp (CNT) raised $900m from a dual-tranche bond on Thursday, making it the first Chinese state-owned enterprise to come to the market in more than a month.

Chinese local government financing vehicle (LGFV) Qinghai Provincial Investment Group Co has missed a coupon payment on a dollar bond yet again as its financial troubles continue.

Chinese chemical company EcoGreen International Group has returned to the offshore loan market after a three year break for $150m.

South Korean energy company SK E&S has launched a block sale of up to HK$11.8bn ($1.52bn) in China Gas Holdings, according to a term sheet seen by GlobalCapital Asia.

Chinese conglomerate HNA Group delayed the repayment of an outstanding bond this week, after an 11th-hour meeting that investors and bankers sharply criticised. Addison Gong reports.

Chinese hotel company Huazhu Group, previously known as China Lodging Group, is asking lenders’ consent to waive some of the financial covenants on a recent syndicated loan.

Bankers working on Akesobio’s IPO are preparing for a tough allocation process as a flood of retail demand for the Hong Kong listing is set to leave little for institutional accounts, said a source close to the deal.

GSX Techedu, a Chinese kindergarten to 12th grade after-school tutoring platform, has been targeted by a US short-seller for allegedly inflating its revenue. The company has denied the allegations.

The Malaysian and Shenzhen stock exchanges have entered into a memorandum of understanding to boost cross-border investment opportunities and collaboration, according to a statement on Wednesday.

China's MIE Holdings Corp is speaking with bondholders about restructuring its dollar debt, following a missed coupon payment on Sunday.