China

In this round-up, the China Banking and Insurance Regulatory Commission (CBIRC) put pressure on banks to provide more private sector financing, the US trade representative said he was not yet satisfied with China’s trade promises and the Hong Kong Stock Exchange (HKEX) planned to increase cross-border capital market deals.

Index provider MSCI will increase the weight of China A-shares in its flagship emerging market index from 5% to 20%. The move will happen over three phases and be completed by November 2019, the company announced on Thursday.

Haitong International Securities has boosted an offshore borrowing to HK$16bn ($2bn) after receiving strong demand during the syndication.

In this round-up, China’s benchmark CSI300 index saw its biggest daily rise in three years after trade negotiations and deleveraging boosted investor sentiment, service imports and exports rose in 2018 and a Bloomberg survey indicated Hong Kong and Singapore investors are optimistic on Chinese onshore bonds.

Dollar bond supply from China continues unabated. China Vanke Co and Agile Group Holdings joined their real estate peers in a recent spree, raising $1.1bn between them, while science park operator TUS-Holdings priced a $350m dollar bond.

Futu Holdings, theparent of Hong Kong-based Futu Securities International, has hit the road with an up to $130.8m Nasdaq IPO. The firm has cut the size of its float amid shaky markets, but the deal is still being used as a yardstick by its larger competitor Tiger Brokers, which is snapping at Futu’s heels with its own US listing. Jonathan Breen reports.

The Shanghai Stock Exchange’s new board for technology listings is moving closer to launching. But although funds are already getting themselves ready for a wall of retail demand, bankers have a sense of déjà vu. Rebecca Feng reports.

The Export-Import Bank of China raised €1bn from a three year bullet on Wednesday, bringing home more cash than expected thanks to overwhelming orders from eager investors.

Chinese banks will sell at least Rmb240bn ($36bn) of tier two bonds in March, launching what bankers think will be a wall of supply.

Should bond investors be worried about Chinese local government financing vehicles (LGFVs)? After a recent default had almost no impact on the secondary or primary markets, most investors appear to have put aside their concerns. At least for now. Addison Gong reports.

China’s Hefei Guoxuan High-Tech Power Energy and Bank of Communications Financial Leasing are both raising dollar loans. But while Guoxuan is tapping offshore liquidity, Bocom Leasing is targeting onshore banks.

Sichuan Languang Development Co returned to the bond market on Wednesday with a $150m tap of an outstanding deal, bringing its 11% 2020 notes to a total size of $400m.