China

Huai’an Traffic Holding and Yuzhou Properties Company are set to become the newest names to test liquidity in the international bond market, kicking open their deals on Tuesday morning.

The US took a step forward as a renminbi hub in September, when Bank of China New York branch was appointed as the local clearing bank. GlobalRMB met with a representative of the Working Group on US RMB Trading and Clearing to discuss new and future developments.

Mark Schwartz, Goldman Sachs’ chairman for Asia Pacific and vice-chairman of the firm, has decided to leave at the end of the year, bringing an end to his 27-year-long tenure at the bank.

The US Treasury Department has maintained the view that China is not a currency manipulator in its second report to the congress on the foreign exchange policies of its major trading partners.

Shui On Development Holding is offering a hefty margin on its $300m three year amortiser to entice lenders cautious about investing in Chinese property related firms.

BDO Unibank in the Philippines and Industrial and Commercial Bank of China New York branch made their respective returns to the dollar bond market on Monday.

ZTO Express has revealed the terms for its upcoming $1.3bn US IPO, which will be the largest listing in the country by a Chinese firm since Alibaba Group Holdings' $25bn float in 2014.

Modern Land (China) Co ventured out with its maiden green bond on Thursday. It not only achieved the largest size for its dollar bonds to date, but also paved the way for the country’s property developers to come to the international green debt market.

A $3.5bn dual-tranche borrowing to back Tencent Holdings' acquisition of a stake in mobile gaming company Supercell, has been allocated. Three Chinese mandated lead arrangers and bookrunners held on to 60% of the loan at the end of general syndication.

In this round-up, the Shanghai Free Trade Zone introduces electronic warrants to facilitate cross-border payments for commodity companies, Macau gets high level backing for its renminbi ambitions and new RQFII quotas for Thailand and Luxembourg. Plus, a recap of our coverage this week.

Preparations for the Shenzhen-Hong Kong Stock Connect are in full swing as the Hong Kong and Shenzhen stock exchanges embark on international roadshows ahead of its expected November launch.

Asia is gearing up for a bumper week of IPOs, with two $2bn deals launching on Monday and other smaller-sized floats vying for investor attention in what has been an action-packed October.