China

The Export-Import Bank of Korea raked in a larger than expected Rmb1.5bn ($236.5m) from an offshore renminbi bond on Friday, in a deal buoyed by Taiwanese investors’ appetite for new paper.

China sticks to a 6.5% growth target for 2018, Ministry of Commerce (MofCom) criticises a US proposal to impose tariffs on steel and aluminium imports, and the Shanghai and Shenzhen stock exchanges outline rules for Belt and Road bond issuers.

Chinese after-school education provider OneSmart International Education Group has filed an IPO prospectus with the US market regulator for a New York Stock Exchange listing of up to $300m.

Arab Petroleum Investments Corporation (Apicorp) became the second issuer from the Gulf to tap the offshore renminbi market this week, making this year already the biggest on record for Gulf renminbi bonds.

Bank of China joined its Chinese peers to sell floating rate notes (FRNs) offshore, while Fantasia Holdings Group Co added to the momentum in the high beta property sector. The two finished off an incredible week for both financial and corporate borrowers from the Mainland.

In the second of a four-part series of articles on China’s financial transformation, GlobalRMB considers the nation’s banking reforms, which will allow a horde of foreign banks to gain more traction in the country. At the same time, Chinese banks are moving in the opposite direction.

Standard Chartered announced solid profit growth for 2017, with the bank underlining that the rise of renminbi will continue to present business opportunities for the group, and that the currency could make up 5% of global payments by 2020.

Invesco unveils a fixed income fund focused on Belt and Road countries, regulators release the first batch of qualified foreign institutional investor (QFII) quotas of 2018, and Boston-based Acadian Asset Management begins buying Chinese A-shares.

Stock Connect volumes and a broader RMB offering played a key role in helping the Hong Kong Exchange (HKEX) turn a profit last year.

The IPO filing season in Hong Kong is picking up steam, with a number of issuers submitting their applications for new listings this week.

China's SAIC-GMAC Automotive Finance wants to raise Rmb3bn ($473.7m) from an asset-backed securitization on Monday.

The first of Hong Kong’s post-Lunar New Year IPOs got going this week. China Boqi Environmental Holdings hit screens with a HK$908m ($116m) transaction.