China

China-based X Financial has set the ball rolling for a potential $250m listing on the New York Stock Exchange.

CPI Ronghe Financial Leasing is in the market for its second international loan after wrapping up a successful debut last November.

The debate over whether Shanghai Lingang Economic Development (Group) Co and Zhuhai Huafa Group Co are pure-play local government financing vehicles or Chinese state-owned enterprises took centre stage during their dollar bond outings on Tuesday.

Viomi Technology, a partner of Chinese smartphone-to-internet company Xiaomi, is looking to float on the Nasdaq for up to $150m.

Chinese electric car maker Nio launched its US IPO, looking to pocket up to $1.3bn amid strong interest from investors for stocks in the sector.

Agricultural Bank of China’s Hong Kong-based subsidiary got its first taste of the onshore bond market — and its policy-inspired volatility — as the Chinese central bank tightened bond underwriting rules and statements from the finance ministry led to a spike in supply of local government debt.

Signs of a revival in primary bond market activity were evident on Tuesday when four Asian issuers ventured out for new dollar transactions, setting the stage for what is set to be a busy September.

China’s impending Panda bond framework offered the country a chance to sort out a messy approval process that deters all but the most dedicated issuers. Instead, the country doubled-down on chaos.

HNA Group-owned Haikou Meilan International Airport’s international bond went on a rollercoaster ride in the secondary market on Monday, after the company missed the payment deadline on an onshore bond.

Zhejiang New Century Hotel Management, a unit of Chinese billionaire Chen Miaolin’s New Century Group, has filed for an IPO in Hong Kong.

CPI Ronghe Financial Leasing, a subsidiary of State Power Investment Corp, has made a quick return to the loan market for $300m, nine months after signing its last borrowing.

Chinese property developer Wuzhou International Holdings has failed to redeem a $100m convertible bond as well as part of a Rmb500m ($73m) onshore note, announcing the breaches just months after defaulting on a $300m bond.