China

In this round-up, Chinese premier Li Keqiang encourages local government bond issuance, the Central Commission for Discipline Inspection plans to investigate corruption around local government debt, and Shanghai is working to grow the Star board and attract more foreign investment into the city.

In this round-up, China’s economy grows at the slowest rate in nearly three decades, the central bank injects a shot of liquidity into the market through the medium-term lending facility and reverse repo, and DBS Bank (China) receives a bond settlement agent licence in the interbank market.

In the phase one trade deal signed on Wednesday between the US and China, the majority of the agreements focusing on the financial sector are simply reiterations and elaborations of what the Mainland government has already said. But there are now some concrete deadlines in place to open up the domestic market further to foreign firms.

Four Chinese borrowers hit the dollar bond market on Thursday, competing with supply from India, Indonesia and the Philippines.

A flurry of accelerated bookbuilds hit the Hong Kong market on Thursday night as issuers and investors squeeze through the last window for fundraising before companies go into earnings blackout and the Chinese New Year holidays.

Industrial and Commercial Bank of China (Asia) has hired two former Hang Seng loans banker to join its global capital finance department in Hong Kong.

Zhongce Rubber Group has returned to the international loan market for a $250m refinancing.

AIIB made its dim sum debut this week into a booming market. A slew of deals has been sold in recent weeks, with more paper printed in last the last 10 days than in the whole of any other year, except for 2019.

The International Swaps and Derivatives Association's CEO has called for more clarity on close-out netting in China.

ING names Apac wholesale banking head — CréditAg adds to debt team — MUFG taps China corporate banking head — Hang Seng seeks feedback on WVR index inclusion — Star board pipeline builds

The majority of the banks in China, as well as foreign banks, can now trade bonds listed on the Shanghai and Shenzhen stock exchanges, according to new guidelines published on Wednesday. But the appeal of this option remains questionable.

Anta Sports Products made a stellar euro equity-linked debut this week, sealing a €1bn zero-coupon convertible bond at a negative yield. The deal had its share of challenges, but showed what is possible in a market that has seen a change in sentiment recently. Jonathan Breen reports.