China

In this round-up, the Shanghai Stock Exchange said it will allow onshore investors to buy Hong Kong-listed dual-class shares, the International Monetary Fund urged the US and China to reach a trade deal and the Mainland securities regulator published guidance on securities houses’ bond underwriting practices.

Ronshine China Holdings added $120m to its coffers on Friday after a tap of its $300m 2023 notes, using up the last of its offshore issuance quota.

Shandong Ruyi Technology Group Co’s outstanding $345m bond, which is only two months from maturity, jumped by over 10 points in the secondary market last week. The move was a response to the company's attempts to improve its liquidity position, including through the announcement of a tie-up with a government-owned entity.

The current system of globalisation with the United States at its centre looks set to crumble and be replaced by a new global system anchored around China, leading economists have told GlobalMarkets

In this round-up, the phase-one trade deal between the US and China ran into problems, China relaxed regulations on foreign banks and insurers and the International Monetary Fund (IMF) warned slower global growth.

In this round-up, China’s third-quarter GDP growth fell to 6%, September’s CPI inflation jumped due to continued surge in pork price and money and credit growth both exceeded market expectations

Health and Happiness International Holdings, Yibin Emerging Industry Investment Group Co and CCB International were among those which priced dollar bonds on Thursday.

BMW Finance returned to the Panda bond market with a Rmb3bn ($424m) dual-tranche private placement note. It was the company's third outing this year, but this time the German automaker substituted the three year tranche with a two year note.

Avic International Leasing Co followed the success of Chinese National Travel Service Group Corp's bond this week, raising $200m from its own aggressively-priced perpetual note on Thursday.

Citic Securities Co returned to the offshore market with a $700m dual-tranche transaction. The deal included a five year bond, a rarity from a Chinese securities house in recent years.

Russia will issue renminbi government bonds by early 2020, said Russia deputy finance minister Alexey Moiseev on Thursday at the Moscow Exchange Forum in London. The move is a bid to widen access for Russian corporates eyeing renminbi debt, while diversifying funding sources away from the dollar.

Foreign banks are eager to gain full control of their Chinese securities joint ventures, after the regulator said it was abolishing a cap on foreign ownership. But fierce competition and difficult onshore regulations mean it is a long, rocky road ahead. Rebecca Feng reports.