China

BNP Paribas got a boost last month when it became just one of four foreign corporate debt underwriters in the China Interbank Bond Market (CIBM). The French lender’s head of global markets for greater China, CG Lai, explained to GlobalRMB that the licence showcased the growing maturity of the onshore market with Panda bonds the key to their plans.

Shanghai Pudong Development Bank (SPDB) worked its magic as the first greater China issuer in the international market after Chinese New Year, pulling in eager investors to grab a tightly priced $500m deal.

Bank of China started taking bids for a triple-tranche dollar offering on Tuesday, while China Construction Bank is looking to return to the euro bond market after a two year hiatus.

Citi has become the first US bank approved to act as a bond settlement agent in the China Interbank Bond Market (CIBM).

Onshore Chinese investors can now buy into Hong Kong IPOs directly if they are acting as cornerstones investors, following a change in regulation by the State Administration of Foreign Exchange (Safe).

A crude oil refiner affiliated to Sinochem Group has made its debut in the international syndicated loan market for $110m, with a view to expanding its overseas banking relationships.

Chinese markets are back, with previous interventions by the regulators still paying off in the offshore RMB spot markets, while Dubai's exchange saw growing interest in RMB futures contracts in January 2017.

The post Chinese New Year holiday week has kicked off with Shanghai Pudong Development Bank (SPDB) hitting the market with a three year dollar offering on Monday morning local time.

After taking a beating in 2016, many are expecting the renminbi to fall further against the dollar this year. But few market watchers expect another sharp depreciation, with some believing the RMB may have already reached the bottom.

China Singyes Solar Technologies Holdings is eyeing its inaugural dollar bond, hiring six banks to work on the senior unsecured transaction.

In this round-up, CFETS sets its dollar fix nearly unchanged after a week-long break, several Japanese lenders get ready to gain access to the China interbank payment system, and RMB trade settlement in Hong Kong sees a sharp fall in 2016. Plus a recap of our coverage.

Intervention by Chinese authorities to stabilise RMB markets on and offshore have ushered in a difficult phase for foreign corporates, who once again are facing issues of trapped cash and tougher liquidity conditions.