China

China’s Ministry of Finance will hold its second offshore renminbi (CNH) bond auction of the year on October 10, when it will tap its first transaction from July. The new Rmb5bn offering will come two weeks after the People’s Bank of China announced plans to also start issuing CNH-denominated bills in Hong Kong.

Innovent Biologics is gauging investor appetite for an IPO in Hong Kong that could hit screens by mid-next week, according to a banker on the trade.

Tencent Music Entertainment Group has started pre-deal investor education for one of the highest-profile IPOs by a Chinese firm in the US this year.

Natixis has picked two bankers to lead its corporate coverage across Greater China through an internal promotion and a new hire.

The Ministry of Finance of the People’s Republic of China has mandated 12 banks to work on its planned $3bn return to the bond market, which could come next week.

A number of Chinese issuers have revealed their offshore bond plans just ahead of a week-long holiday in the Mainland, as the sovereign too plots its return.

Yancoal Australia has passed a listing hearing with the Hong Kong Stock Exchange and is preparing for the launch of its IPO this month.

Minsheng Financial Leasing has boosted its three year borrowing to $510m after attracting 12 participants during syndication.

The upcoming issuance of bills by the People’s Bank of China will improve management of offshore RMB (CNH) liquidity, but unless they come regularly and across tenors they may not help establish a dim sum yield curve.

S&P confirmed China’s rating due to positive policy moves, the Hong Kong Monetary Authority said renminbi deposits in Hong Kong are on the upswing, and payment infrastructure provider Swift says RMB keeps the fifth position as a global payment currency.

The two largest equity index providers put A-shares in the spotlight this week, with FTSE Russell announcing it would begin including the stock in its emerging markets index from June 2019, and MSCI launching a consultation on granting A-shares a greater share of its EM indices.

China Life Insurance Co is planning a return to the offshore bond market for capital after a drop in its core solvency ratio, while Industrial and Commercial Bank of China is seeking shareholders’ blessing for a Basel III additional tier one (AT1) deal.