China

Chinese local government financing vehicle (LGFV) Zhangzhou Jiulongjiang Group Co reopened the post-summer bond market with a $500m deal, making its debut in dollars.

The regulator of China’s interbank bond market has given BNP Paribas and Deutsche Bank type A-licences that give them full underwriting access to the market. But the move has puzzled a number of bankers both onshore and offshore.

Agricultural Bank of China Singapore branch has raised a $200m green loan from seven banks, following in the footsteps of peer ICBC London, which signed a mandate letter for a green loan three months ago.

Chinese sportswear manufacturer Xtep International Holdings has closed its refinancing loan at HK$1.8bn ($229.5m) with nine banks.

Bank of Guizhou started drumming up interest for its Hong Kong IPO of around $1bn on Monday, according to a source close to the situation.

A five-year absence of real estate investment trust (Reit) IPOs in Hong Kong is set to come an end as China Merchants Commercial Real Estate Investment Trust readies a listing.

Embattled Chinese bank, Bank of Jinzhou, has proposed cancelling coupon payments on its offshore additional tier one bonds for a year, the first such case from a Mainland lender.

China’s Suning Financial Services, a subsidiary of home appliance retailer Suning Holdings Group, has closed a HK$1.63bn ($208m) three year loan.

In this round-up, new tariffs on both Chinese and US goods took effect on Sunday, China’s official Purchasing Managers’ Index declined, and protesters in Hong Kong paralysed the city’s airport yet again.

In this round-up, the Chinese Ministry of Commerce indicated that it might hold off tariff retaliation, the country announced the establishment of six new free trade zones (FTZs) and the People’s Bank of China has asked banks to price loans based on the new loan prime rate (LPR) mechanism immediately.

In this round-up, China’s industrial profit climbed in July, the Canadian dollar overtook the renminbi as the fifth most used currency for international payments, and HSBC conducted the first transaction in the interbank market for foreign investors with a T+3 settlement cycle.

Bank of Communications Financial Leasing Co priced a small $600m dual-tranche transaction, attracting twice as much interest on a floating rate note compared to a fixed rate bond.