China

Nio, a Chinese electric car company, has started sounding out investors for its IPO on the New York Stock Exchange with an indicative size of $1.8bn.

China International Marine Containers plans to spin-off its vehicle manufacturing arm through a listing on the Main Board of the Hong Kong Stock Exchange.

Beijing Properties sold a two year bond last week after getting demand from some of the Chinese banks who joined the deal. That allowed the leads to launch the bond with little worry it would drag on over the weekend.

Chinese peer-to-peer lender Weidai is seeking an IPO on the New York Stock Exchange, even as the troubled sector continues to reel from tightening regulations.

The People’s Bank of China says it will not weaken the RMB amid rising trade tensions with the US, the banking and insurance regulator wants more lending to small businesses, and the former boss of the Chinese central bank argues that RMB internationalization should keep a low profile.

The securities watchdog promises more relaxations for inbound investors, officials levy new tariffs on US goods as state media takes aim at critics at home, and a senior central bank official criticises the Ministry of Finance for not doing its job.

China’s foreign exchange reserves grow in July, renminbi derivatives in Singapore hit a new high as trade war escalates, official data shows a pick-up in exports from China to Belt and Road countries.

Chinese property companies have seen their funding options restricted in a variety of markets, leaving the offshore loans markets the only avenue for them to raise new funds. But loans bankers, who have long operated in an uneasy grey area for such deals, are worried they will be next in the firing line. Pan Yue reports.

Tsinghua University Science Park, or Tuspark, raised $350m from its bond sale on Wednesday, notably helped by 14 bookrunners.

In a quiet week for Asia’s equity capital markets, three issuers filed preliminary documents ahead of their planned share debuts in Hong Kong due to take place in the autumn.

The Canadian province of Quebec has mandated four banks, including two international firms, to underwrite its first bond in China, a finance official at the provincial government told GlobalRMB.

Hong Kong Exchanges and Clearing (HKEX) boasted record revenues in the first half of year, as MSCI inclusion helped push northbound equity investment to new heights.