China

The G20 meeting in Japan ended as well as those in markets could have expected. The US and China may have agreed to delay additional tariffs against the other but none were removed either. Investors are beginning to plan for a more sustained period of hostility between the two countries.

Standby letters of credit in Asia have come into the spotlight after China Construction Bank paid off bondholders on behalf of China Minsheng Investment Group (CMIG), marking the first time this structure has been tested.

The much anticipated G20 meeting between Chinese president Xi Jinping and US president Donald Trump in Osaka brought good news to Huawei, US farmers, US high tech companies, and Chinese stock markets. However, key conflicts remain unsolved.

Hutchison Healthcare Holdings has taken home $288m from an enlarged sell-down of shares in Hutchison China MediTech (Chi-Med).

Chinese private higher education provider Edvantge is planning to raise up to $100m from a listing on the Hong Kong Stock Exchange, with bookbuilding set to open on Wednesday.

In this round-up, China names a new central bank monetary policy committee member, the People’s Bank of China (PBoC) and China Banking and Insurance Regulatory Commission (CBIRC) jointly issued the first white paper for small and micro enterprises, and the state council reckons more measures are needed for these businesses.

In this round-up, Egypt looks to issue renminbi bonds in the first quarter of 2020, retail investors chased after Suzhou HYC’s Star Market debut, and the regulators gave the greenlight to top brokerages to sell financial bonds in the interbank market.

China’s Jinshang Bank kicked off its HK$3.42bn ($438m) Hong Kong IPO on strong footing on Friday, with the book well covered ahead of launch.

ESR Cayman has turned to the debt market for a $175m bond tap, just two weeks after delaying its initial public offering in Hong Kong.

Three new companies have set their sights on listing in Hong Kong, filing draft IPO documents with the exchange.

CK Hutchison Holdings is paring down its stake in Hutchison China MediTech (Chi-Med) through a placement after the biopharmaceutical company put its planned Hong Kong IPO on the back burner.

Chinese online lender Qudian benefitted from active engagement with equity-linked investors to explain its business and growth potential to raise $300m from a popular convertible bond.