China

Chinese companies Shui On Land and Biostime International are looking to raise funds from the dollar debt market, launching their respective deals on Monday morning.

The Trump presidency begins without China being labelled a currency manipulator, RMB keeps strengthening against the dollar, and the State Administration of Foreign Exchange emphasizes stability over reform.

Zhuhai Huafa Group Co on Thursday rolled out a three year dollar offering. It was not an easy task to find a direct comparable due to the debut status of the issuer and its credit strength compared to some other names, admitted bankers.

In this round-up, index provider FTSE Russell adds two new Chinese A-shares indices, the mutual recognition of funds (MRF) scheme sees sales of Hong Kong funds retreat in December, and the Hong Kong Monetary Authority adds nine partners to the Belt and Road-linked Infrastructure Financing Facilitation Office (IFFO). Plus, a recap of our coverage.

Hong Kong Airlines, whose biggest shareholder is China’s HNA Group, was marketing a senior perpetual non call 3.5 year bond on Friday, driven by anchor interest.

The margin compression that dominated the Asian syndicated loan market in 2016 was expected to spill into this year. But Chinese capital controls have proved to be a game changer, with Mainland companies compelled to turn to overseas funding, said market participants. Shruti Chaturvedi reports.

China Huarong Asset Management Co offer investors a rare combination of a senior three year and a senior perpetual bond in its first outing of the year, snapping up $2.6bn across two tranches.

Repeat Chinese issuer Yuzhou Properties Company and debut credits Reward Science and Technology Industry Group Co and United Photovoltaics pushed into the busy Wednesday market, looking to close dollar deals before the holiday.

Hong Kong Exchange (HKEX) chief executive Charles Li laid out the exchange’s plans for 2017, with a strong focus on expanding its RMB offering through new products such as Chinese treasury bond futures and connectivity with China’s bond market.

The number of foreign entities with direct access to the China Interbank Bond Market (CIBM) has increased with Ontario Pension Board, T. Rowe Price International and Standard Chartered Singapore among the inductees.

Beijing Capital Group Co fought its way through an extremely crowded Asia primary market to garner more than $2.2bn in demand for its bond outing.

China is looking to broaden the financing options of foreign firms by allowing them to list onshore and sell corporate bonds, the State Council said.