China

It's now all Trump, all the time – especially for China. In this round-up, a recap of our top stories from an eventful week. In broader news, the RMB struggles against the dollar, China’s foreign exchange (FX) reserves hit new lows in October, and the Asian Infrastructure Investment Bank readies a seat at the table for Hong Kong.

Chinese local government financing vehicle Jiangsu Hanrui Investment Holdings opened a tap of its existing notes on Friday morning off the back of reverse anchor interest, keeping momentum going in the Asia DCM market post the US election.

Eight banks have joined a $150m three year bullet loan for Hesteel Hong Kong Corp, part of China’s Hesteel Group, thanks to confidence in the parent's credentials.

The US presidential election drove the Asian fixed income market to a near standstill this week and for most borrowers, Donald Trump’s victory has likely stalled plans for upcoming issuance. But Chinese property developers and local government financing vehicles, some of the names most desperate for funds, may keep the market moving for the rest of the year. Morgan Davis reports.

Haitong International Securities Group will bring Haitong Securities India under its umbrella by acquiring the unit from its Portuguese affiliate. The move is part of the Hong Kong-based broker’s efforts to position itself as a boutique investment bank in Asia Pacific.

Bank of China has racked up another first with the inaugural green covered bond from the mainland. The deal’s unique structure garnered international attention, supporting the country's pursuit of leadership in green bonds.

Investors had the opportunity to buy an additional tier one offering from a Chinese city commercial bank for the first time last week, with Huishang Bank Corp selling its debut dollar-denominated bond.

Foreign appetite for onshore Chinese bonds is strong with investors planning to increase their allocation, according to a new survey. But with a number of impediments still to be fixed any inflows are likely to be limited.

Local government financing vehicle (LGFV) Gansu Provincial Highway Aviation Tourism Investment Group Co became the first and only issuer in Asia ex-Japan to launch a G3 bond this week.

CMB Financial Leasing Co has picked banks and is starting a roadshow this week for its debut international bond, in a sign that it's business as usual in Asia.

In a rollercoaster day for markets, the renminbi had a rocky start before gaining ground against the dollar as news on the US elections unfolded. But volatility is likely to continue in the coming days as markets get to grips with Donald Trump’s victory.

Credit Suisse has made a new hire in its Chinese securities joint venture, naming Steven Zhang as head of sales trading to oversee its onshore brokerage operations.