China

FX watchdog loosens its grip on capital outflows for foreign investors, securities regulator lobbies for A-shares to make up more than 0.73% of MSCI’s benchmark emerging market (EM) index, and the governor of China’s central bank hails Shanghai as the prime spot to pilot further liberalisation.

New benchmark created for interbank bonds, the Institute of International Finance (IIF) projects further inflows into China’s capital markets, and the White House is reportedly going ahead with plans to place tariffs on $50bn of Chinese imports.

Xiaomi Corp has said that about half of its expected $10bn dual listing in Hong Kong and China will come from the offering of China Depositary Receipts to Mainland investors.

Asia’s bond market suffered prolonged bouts of volatility in the first half of the year. Bankers, credit analysts and asset managers are trying to shake off the disappointments in both the primary and secondary markets, but the signs are not good. Addison Gong reports.

Companies in both China and India have to find their way through regulatory labyrinths to gain approval to sell offshore bonds. But although both countries have overbearing, occasionally irrational, regulators, they differ in one key respect.

Chinese used car e-commerce platform Uxin began bookbuilding on Thursday for an IPO that could raise up to $475m.

Industrial and Commercial Bank of China (Asia) on Wednesday priced a triple-tranche green bond. But the deal, comparatively smaller than recent issues at $730m equivalent, had a moment of intrigue when one global co-ordinator left the syndicate group.

BNP Paribas Singapore CEO heads to US — Credit Suisse makes senior SEA appointments — ICICI ECM head to exit — Deutsche equity-linked veteran leaves for Goldman — ANZ loses syndications banker — BNY Mellon WM names Greater China head

Huo Rongrong, the former global head of RMB and China business at HSBC, has left the bank for Investec Asset Management. The London-based banker will have a broader remit in her new buy-side role.

Bank of China Group Investment (BOCGI) is returning to the Panda market after a year-long absence. Unlike the last transaction, the issuer will sell the bond on the Shanghai Stock Exchange, instead of the interbank bond market, marking its first outing on the exchanges.

Future Land Holdings Co raised $200m from a slightly unusual 3.75 year bond on Tuesday, but found investors distracted by the landmark Trump-Kim summit in Singapore.

Industrial Bank of Korea mandated banks for a social bond issuance on Tuesday, viewing the product as a natural fit for the first transaction from its socially responsible bond framework. Meanwhile, ICBC Asia is looking to sell a new green deal.