China

BNP Paribas (BNPP) has picked a senior global markets executive to run its China business, GlobalRMB understands. The bank has also lost its second head of RMB solutions team in two years.

Liaoning Chengda Biotechnology filed for a Hong Kong flotation on Tuesday through sponsors CLSA and GF Capital.

Foreign inflows to China’s onshore interbank bond market dropped to Rmb5.1bn ($734m) in September, down 91.5% from the previous month, amid narrowing spreads between China and the US and slowing economic growth.

China's Guodong Network Communications is seeking a debut loan of up to €150m ($170m) in syndication.

Oceanwide Holdings Co, a Chinese conglomerate but primarily a homebuilder, bagged a $215m bond on Monday, but not all the firms on the original syndicate team remained on the deal in the end.

Bonds from Chinese real estate developers were some of the worst performing in Asia last week, dragged down by the global volatility and fears around property companies’ refinancing needs.

China Merchants Loscam has closed a $302m dual-currency club loan, making a comeback to the offshore market after a five-year absence.

360 Finance has filed for a $200m IPO on the New York Stock Exchange through Citi and Goldman Sachs.

China and Japan confirm details of currency swaps and plans to invest more in third party markets, the Hong Kong Monetary Authority (HKMA) renews the license of nine authorised institutions as Primary Liquidity Providers (PLPs) for the CNH market in Hong Kong and Singapore sets up new government agency to bridge the funding gap facing Asia’s infrastructure projects.

Collaboration between IHS Markit and ChinaBond aims to launch a series of indices to expand foreign access to $11tn Chinese onshore bond market.

In this round up, Eastspring Investment Management can now offer onshore investment products to Chinese customers, SWIFT Business Intelligence outlines Australia’s role in renminbi internationalisation, and Industrial Commercial Bank of China (ICBC) gets approval from the European central Bank to set up a subsidiary in Austria.

Innovent Biologics, the fourth issuer to ride the wave of Hong Kong’s biotechnology IPOs, was so popular with institutional investors that allocations caused a headache, said bankers.