China

Chinese live streaming platform YY has raised $402.5m after taking advantage of a surging stock price to sell a block of its American Depositary Shares (ADS).

Short-dated CNY swaps have been lightly offered and the 2s/5s NDIRS curve slope has steepened slightly. Meanwhile, the People’s Bank of China is considering expanding its reverse repo operations and its Macro Prudential Assessment reporting requirements have been tweaked, writes Deirdre Yeung of Total Derivatives.

Orient Securities Company, listed and operating in Hong Kong as DFZQ, is looking to issue offshore debt, according to a filing with the Hong Kong Stock Exchange.

Chinese biopharmaceutical firm Zai Lab has made its plans for a $115m IPO of American Depositary Shares (ADSs) public, filing a draft prospectus with the US regulator on Tuesday.

China Central Depository and Clearing (CCDC) published its biannual report on China’s asset backed securitization (ABS) market on August 8. It recommended regulators loosen up liquidity, provide incentives to attract more participants, and test the waters by opening an offshore ABS market. Here’s a quick guide to what CCDC said.

A raft of measures approved over the past two decades has opened the door to China’s onshore capital markets. But the Mainland still fares poorly against other countries in its pace of opening up, the International Monetary Fund (IMF) said in its latest China country report.

Chinese authorities are once again voicing their desire to get back on track with the reform agenda. But Bond Connect aside, there is not much evidence the powers that be are delivering on that promise — as the International Monetary Fund (IMF) rightly makes clear in its China country report.

Harbin Bank, China Orient Asset Management and Baota Petrochemical Group are one step closer to raising funds in the international capital markets, having received regulatory approvals for foreign currency bonds.

China’s Cifi Holdings is taking orders for a perpetual non call five year bond on Tuesday, returning to the public dollar debt market after more than two years.

Nasdaq-listed YY launched a share sale on Monday that could raise around $463m based on its latest price.

Chinese biopharmaceutical company Zai Lab has appointed a pair of firms to lead its US listing, as a host of other Mainland companies also prepare to float across the Pacific.

China Merchants Bank Co has received the blessing from the China Banking Regulatory Commission to raise Rmb35bn ($5.25bn) in additional tier one capital from the domestic and foreign markets.