China

Shanghai-listed Liaoning Cheng Da plans to list its biotechnology arm in Hong Kong, according to the company.

Peking University Founder Group, Industrial and Commercial Bank of China and BOC Aviation came out with floating rate deals on Monday as the format continues to find favour among investors.

Chinese telecommunication company ZTE, which is asking for a covenant waiver on a $450m loan, is set to get some relief after US president Donald Trump said he would work with China to get the company back to business soon.

JP Morgan Chase appointed Mark Leung as chief executive of China on Monday, as it unveiled plans to expand its business in the country.

The Chinese central bank outlines achievements in RMB internationalisation in 2018 so far, onshore subsidiary of Foxconn prepares A-share market debut, and international banks’ business in Shanghai grew in the first quarter.

China’s Hefei Guoxuan High-Tech Power Energy has tapped the offshore loan market for the first time, unveiling a $300m loan.

China Minmetals Corp subsidiary Minmetals Land scared off many investors on Thursday by opting for a perpetual bond. But the unrated issuer still managed to put together a $200m trade, thanks to its parent company’s government ownership.

Huya, a live streaming platform backed by YY and Tencent, has raised $180m after pricing its US IPO at the top of guidance.

China Huadian Corp priced a $600m bond on Thursday that proved popular in both primary and secondary markets thanks to a stabilising market backdrop. Southwest Securities Co also found a receptive audience for a sub-one year bond, but was unable to tighten pricing.

Shanghai Fosun Pharmaceutical Group has been given the go-ahead to raise as much as HK$4.4bn ($564m) in new equity, amid reports the company is bidding for Novartis’s assets.

Two international financial institutions apply for majority stakes in onshore joint ventures, Vanguard sells new ETF to track Chinese stocks globally, and Taiwan Futures Exchange (TAIFEX) joins hands with S&P Dow Jones to set up the first RMB futures indices in Taiwan.

Japan receives a renminbi qualified foreign institutional investor (RQFII) investment quota, People’s Bank of China chief backs greater liberalisation of domestic financial sector and RMB exchange rate, and the central bank outlines key objectives for RMB internationalisation in 2018.