China

China Securities Regulatory Commission welcomes the prospect of A-share inclusion by MSCI, China’s State Council publishes a new negative list to make foreign investment easier in free trade zones, and the Asian Infrastructure Investment Bank (AIIB) makes its first equity investment.

Transport and tourism services provider Zhuhai Holdings Investment has returned to the syndicated loan market after two years for a HK$1.5bn ($192m) borrowing.

Industrial and Commercial Bank of China’s Hong Kong branch is marketing a floating rate Reg S transaction featuring a three and a five year, having recently raised $1.1bn from a similar deal.

Road King Infrastructure is taking bids for its dollar return on Monday, as it looks to sell its second fixed for life deal in 2017.

Textile maker Shandong Ruyi Technology Group Co is gauging investor interest for a new dollar deal, six months after its debut in the international market.

The European Central Bank switches €500m-equivalent of dollar for renminbi in its FX reserves, the International Monetary Fund adjusts China’s GDP growth forecast while recommending a more transparent monetary policy, and Singapore does a policy U-turn to support One Belt One Road (OBOR).

Hainan Airlines Holding Co and Greenland Holding Group Co printed bonds with tenors of less than one year on Thursday, finding sufficient demand for their deals. But they were forced to pay a premium, given recent talks around China further regulating offshore funding.

Hilong Holding debuted in the bond market on Thursday with a $250m three year bullet, managing to somewhat defy concerns around its concentration in the volatile oil industry.

The concept of Bond Connect has rapidly transformed from market chatter into concrete policy proposals over the past few weeks. But as the anticipated launch date of July 1 draws closer, market participants remain concerned about potential risks, ranging from capital repatriation to the flexibility to switch between access programmes.

China Three Gorges Corp sealed its inaugural offshore green bond on Wednesday, raising €650m from a seven year deal. The notes were sold at a tight spread, with bankers saying that the “European style” execution was due to strong demand from investors.

ICBCI DCM co-head exits — Senior India departures at Barclays — CEB hires global markets deputy — ING appoints Asia levfin head

The Hong Kong Monetary Authority (HKMA) has released details of China’s first offshore renminbi auction of the year, following the Ministry of Finance’s announcement earlier this week that it is looking for Rmb14bn ($2.06bn) of CNH treasury bonds, and also planning its first dollar deal in over a decade.