China

The hubbub over China’s five-yearly Party Congress is now behind us and the country’s regulators are ready to get back to business. In that vein, unusually forceful comments from Zhou Xiaochuan, outgoing governor of the People's Bank of China, on the urgency of deleveraging are more than welcome.

China’s extraordinary liberalisation of its financial markets last week, which cleared the way for foreign ownership of a range of financial institutions, has only found mild enthusiasm among foreign banks so far. They can be forgiven for not immediately breaking out the champagne.

Chinese companies Tianqi Lithium Corp and Yankuang Group Company have set the stage for their offshore transactions, with both hitting the road this week. Qingdao Hengshun Zhongsheng Group Co, meanwhile, has received the green light from regulators for an up to $200m bond.

GAC-Sofinco Auto Finance is returning to the Chinese asset backed securities market seeking Rmb4bn ($602.9m) — its first outing since 2014.

Bank of China has mandated firms to sell a multi-currency green bond through its Paris branch.

Dalian Wanda Commercial Properties (DWCP) has chalked up a three-pronged plan to address problems related to one of its offshore borrowings. The deal was in danger of being accelerated after the company was downgraded by two credit rating agencies in September.

Toyota Motor Finance (China) is hitting the Chinese asset-backed securities (ABS) market for a second time this year. The Japanese automaker maker will approach investors with a Rmb3bn ($452.1m) deal on November 16.

After years of anticipation, China has finally opened the door to majority foreign ownership across its financial sector. But instead of reacting with jubilance, international banks appear cautious as they await more details from regulators and remain vigilant of the challenges ahead, ranging from fierce local competition to licencing procedures.

Anton Oilfield Services Group is making a dollar bond market comeback, offering a new deal in exchange for its existing 2018 bonds.

WuHan DangDai Science & Technology Industries (Group) Co is marketing its inaugural international bond. Separately, Xinyuan Real Estate Co is meeting investors this week for its second dollar bond of the year.

The People’s Bank of China gives foreign institutional investors greenlight to trade derivatives in the interbank bond market, Silk Road Fund sets up investment platform with a General Electric (GE) subsidiary to target Belt and Road energy projects, and the trading volume for Singapore Exchange (SGX) offshore renminbi (CNH) futures falls in October.

Chinese real estate developers China South City Holdings (CSC) and Guangzhou R&F Properties Co are wooing buy-side accounts on Monday for new dollar bond offerings.