China

In this round-up, state buyers are set to bail out Shandong-based Hengfeng Bank, the renminbi’s international usage rebounded in November after a slight drop in October, and Sumitomo Mitsui Financial Group’s securities brokerage affiliate plans to set up a wholly-owned China unit.

Guangzhou R&F Properties, a Hong Kong-listed Chinese real estate developer, raised HK$3.7bn ($475m) from a placement on Thursday evening in one of the last ECM deals of the year in the region.

Cigarette packaging printer Amvig Holdings has closed its HK$1.15bn ($147m) refinancing loan.

Powerlong Commercial Management Holdings has priced its IPO near the top of the range, despite coming to the market at the end of the year and amid a fair bit of supply from Chinese property management companies.

In the final part of GlobalCapital China’s awards announcement, we discuss the key innovation of 2019, and reveal the individual that has made the greatest contribution to reforming and internationalising the Chinese onshore market.

JP Morgan Securities (China) has received the securities and futures business permit from the China Securities Regulatory Commission, which will allow it to begin operations in the Mainland.

Bond investors are set to start the new year with some trepidation, due to uncertainty around the US-China trade relationship and rising defaults in the Mainland. While there will be opportunities, not all issuers will have easy access to liquidity as buyers turn selective.

In the second part of GlobalCapital China’s awards announcement, we reveal the winning banks across Panda bonds, G3 bonds and ABS, as well as the best bank for securities services and the most impressive law firm.

Volumes in China’s securitization market surged this year, with expectations high that the traditional auto ABS and residential mortgage-backed securities (RMBS) markets will continue strongly in 2020. But cracks are starting to appear in some of the other faster-growing asset types, writes Rebecca Feng.

Environmental protection services provider Shenzhen Leoking Environmental Group has set the ball rolling for a Hong Kong listing, having filed draft documents with the bourse.

Ucommune Group Holdings, a shared work-space provider similar to US firm WeWork, is planning to list on the New York Stock Exchange, according to a filing with the US regulator.

GlobalCapital China, previously GlobalRMB, is pleased to announce the winners of its annual capital markets awards, honouring the banks, companies and individuals that have made the biggest contribution to bridging the gap between China’s markets and the rest of the world. In part one of the awards, we reveal the most impressive issuers in the FIG, corporate and SSA categories.