China

In GlobalRMB's Best Bank Awards for China DCM, Standard Chartered wins for ABS and CNH, HSBC takes home the G3 Bond House Award, and Bank of China gets kudos as the Best House for Panda bond issuers.

Securities services was one of the most competitive award categories GlobalRMB had to decide this year. Our awards criteria demanded the near-impossible from participating banks: to beat the competition in the fast-changing China access scheme, while at the same time demonstrating a broad client base and the ability to be at the cutting edge of innovation.

IPOs from Asian companies have painted a mixed picture, with deals continuing to get done even as the trade war between the US and China looks set to escalate. But the incredible share debuts of Nio and Qutoutiao last week are unlikely to mark a turning point. If anything, issuers should continue to tread cautiously on pricing.

Japan’s Hitachi Capital Corp has added to the recent flurry of issuance in offshore renminbi, bagging Rmb600m ($87m) on Monday from its second CNH transaction in a year.

China’s O-film Tech is tapping offshore lenders for the first time for a $100m term loan, hitting the market amid escalating tensions between the US and China.

BNY Mellon has appointed Sam Xu as country executive for China, effective September 18.

China Construction Bank and Shanghai Pudong Development Bank Co’s Hong Kong branch rolled out floating rate notes on Monday, grabbing both dollar and euro investors’ attention.

Chinese local government financing vehicles are under immense pressure, with the ratings of 11 LGFVs downgraded last week. But the focus for now is on the upcoming redemption of Qinghai Provincial Investment Group’s $300m bond next week — key to investor confidence in the sector.

The African Development Bank is preparing to launch a Panda bond programme, following the inclusion of the renminbi in the valuation basket of the issuer’s reporting currency.

Shareholders of Hangzhou Lianluo Interactive Information Technology have approved its plan to list Newegg, a consumer electronics retailing website, in the US.

US president Donald Trump takes to Twitter to clarify trade deal with China is not imminent, likely delaying planned trade talks, Hong Kong Exchanges and Clearing defers Stock Connect investor ID due to super typhoon, and index provider FTSE Russell will announce its A-shares decision on September 26.

China Construction Bank raised S$300m ($219m) through its Singapore branch on Thursday, opting for a two year tenor to offset rising funding costs since its debut in the currency last year.