China

China has registered the first foreign participant to its interbank bond market following its much publicised rule relaxation in February with UK asset manager Insight Investment first across the line on Monday.

Zhongrong International Trust has mandated banks for a Reg S dollar bond that could hit the market as early as this month.

A trio of issuers — China Huiyuan Juice Group, Hong Kong Airlines and Global Logistic Properties (GLP) — are preparing offerings in China’s Panda bond exchange market.

ABC Financial Leasing found a window on Monday to sell its maiden offshore bond ahead of what is expected to be a volatile second half of the week. Unsurprisingly, the deal was largely bought by onshore Chinese accounts, which helped the issuer achieve its fundraising goal.

The China Europe International Exchange (Ceinex) is working with stakeholders on a cross-continental Stock Connect initiative, in a competing bid to plans by the London Stock Exchange, Ceinex's CEO told GlobalRMB.

Minsheng Financial Leasing has set its sights on the international bond market, mandating banks to work on its debut dollar offering.

Mercuria Energy Trading has closed its annual loan refinancing at $2.2bn, taking less from the market than last year, but more than the $2.1bn launch size it announced.

SAIC-GMAC Automotive Finance is set for its second China auto ABS of the year, with the Rmb4bn ($609m) Rongteng 2016-2 Retail Auto Mortgage Loan Securitization to launch on Friday. But unlike the company’s trade from February, the upcoming offering will feature a static pool instead of a revolving structure.

ABC Financial Leasing has launched bookbuilding for its maiden outing to the international bond market, becoming the latest Chinese firm in the financial leasing sector to seek dollars.

Investors are lining up to access China via the new interbank bond market (CIBM) scheme, according to survey published by Standard Chartered (StanChart). But other schemes, such as the Stock Connect, are also seeing growing popularity.

Wuxi Construction and Development Investment Co and Bank of Communications Financial Leasing are getting ready to hit the dollar bond market as early as this month.

Baoxin Auto Group has rolled out a $550m dual tranche financing that is backed by a keepwell from future parent China Grand Automotive Services Co.