China

The China Banking and Insurance Regulatory Commission (CBIRC) published draft rules for the country’s leasing industry on Wednesday. The tighter supervision is likely to have limited impact on large leasing companies, but could drive out the smaller ones.

Phoenix Tree Holdings, a Chinese co-living platform, has started taking orders for its up to $175m IPO on the New York Stock Exchange.

Seven Chinese real estate issuers followed five of their peers to the offshore debt market on Tuesday, marking the busiest start to the year for the Asian bond market.

Chinese e-commerce giant JD.com has returned to the dollar bond market for the first time since 2016 for $1bn, pushing out its maturity profile and pricing the deal at levels comparable to some of its much higher rated peers. Addison Gong reports.

Toyota Motor Finance (China), a Beijing-based wholly-owned subsidiary of Toyota Motor Corp, returned to the Mainland's auto loan ABS market on Tuesday after a two year break. The Rmb4.5bn ($648m) deal was tightly priced.

Minmetals Land’s subsidiary, Onfem Finance, has attracted 17 lenders during syndication, allowing the borrower to boost its loan to HK$6bn ($771m).

Luckin Coffee, China’s answer to Starbucks, has launched a combined follow-on offering and convertible bond issue to raise up to $821m.

German automaker Daimler began its 2020 renminbi debt market activity on Tuesday with a Rmb3bn ($432m) Panda bond sold through a new issuance vehicle, Netherlands-based subsidiary Daimler International Finance.

A number of Chinese real estate companies kicked off their refinancing for 2020 on Monday, with higher rated issuers tapping longer-dated bonds and the weaker names actively engaging in liability management.

A group of shareholders in Xinyi Solar Holdings have bagged HK$1.79bn ($230.7m) after selling a block of shares in the company, according to a source familiar with the matter.

The Shanghai Stock Exchange’s Star board is set to welcome two new companies, as Waison Holdings and Shanghai Electric Group plan to list subsidiaries on China's Nasdaq-style market.

Chinese artificial intelligence company Megvii Technology is moving forward with its plan to list in Hong Kong, after getting the go-ahead from the city’s stock exchange, according to two sources close to the transaction.