China

The Securities and Exchange Commission has accused Deutsche Bank of hiring relatives of executives of state-owned enterprises (SOEs) in the Asia Pacific and Russia, in order to win business from those entities.

Mengniu Dairy, a Hong Kong-listed Inner Mongolia-based dairy and ice cream manufacturer, churned out its second Rmb1bn ($141m) super-short term commercial paper on Thursday.

In this round-up, Ren Zhengfei warns employees of Huawei’s fragile situation, Hong Kong tension rages and Goldman Sachs is working to become the third foreign bank to have a majority-owned JV onshore

In this round-up, the US gave Huawei another three months to buy supplies from US companies, the Chinese government revealed plans to turn Shenzhen into ‘a demonstration area of socialism with Chinese characteristics’ and Japan replaced China as the largest holder of US treasuries

Universal Scientific Industrial (Shanghai) (USI), a subsidiary of Taiwan’s Advanced Semiconductor Engineering, is making its debut in the offshore market for a $300m-equivalent loan.

China’s central bank has shaken up the way banks quote lending rates, reforming an interest rate benchmark to more closely track the market. But onshore bankers expressed doubts about the move. Rebecca Feng reports.

Yanlord Land Group offered a welcome bit of supply in Asia’s otherwise tepid bond market this week, breaking the silence to raise $400m from just its third dollar deal in eight years.

CLSA, the international arm of China’s Citic Securities, has recently made three senior hires in its global debt financing team.

Sunac China Holdings has raised a $280m loan term from five lenders.

China introduced its new benchmark rate, the loan prime rate (LPR), over the weekend, with the first rate published on Tuesday. The reform, which aims to help companies lower their funding costs, is likely to boost the onshore market but will make the already slow offshore market even more difficult.

China unveiled a new benchmark rate, the loan prime rate (LPR), for loans this week. While hailed as a groundbreaking step towards making its benchmark lending rate more market-driven, the mechanism for determining the LPR in fact grants the central bank more control over the country’s interest rates.

The price of real estate developer Kaisa Group Holdings' dollar bonds climbed after China announced a detailed plan over the weekend to develop the company's hometown, Shenzhen.