China

The China Securities Regulatory Commission (CSRC) has confirmed that authorities will respect the beneficial ownership right of foreign investors, crossing another item off the to-do list for A-shares to be included global indices.

Kaisa Group Holdings has finally struck a deal with creditors over the restructuring of its offshore debt, marking the end to one of the longest-running Asian capital markets saga in recent years.

Chinese textile manufacturer Ningbo Shanshan Co has won approval from its board to take a pair of its subsidiaries public in Hong Kong, according to a filing with the Shanghai Stock Exchange.

The CNY NDIRS curve is steeper on mid-sector paying interest and currency- and fixing-related strength in the short-end. Soc Gen sees the CNH CCS-CNY NDIRS spread widening. Meanwhile, China City Construction is planning to redeem an existing dim sum bond, writes Deirdre Yeung of Total Derivatives.

China Huarong Asset Management is looking return to the offshore bond market this month, while Sri Rejeki Isman (Sritex) has announced plans for a new international deal alongside a cash tender offer of its existing notes.

Axis Bank is on track for its debut green bond, marking the third dollar green offering to be sold by an Indian borrower.

The direct trading of more currencies with the onshore RMB (CNY) will lead to an expansion of the trade-weighted reference basket of currencies introduced by People’s Bank of China (PBoC) in December 2015, HSBC said in a May 19 report.

Morgan Stanley is set to name Jing Qian, its co-head of China investment banking, as chief executive of Morgan Stanley Huaxin Securities Co, the US bank’s joint venture in China.

Zhejiang Geely Holding Group successfully priced its first international green bond on Thursday, keeping the momentum going for the asset class in China. The issuer opted for a standby letter of credit from Bank of China’s London branch in a bid to attract investors and cut its funding costs.

The securitization of non-performing loans in China is finally about to restart after having been mooted for months, with transactions from Bank of China and China Merchants Bank scheduled to launch next week.

In this round-up, China's central bank appoints a new deputy governor, first foreign banks with direct access to China’s onshore foreign exchange market are named, the first RMB certificates of deposits (CDs) settle in the US, and eight new RMB qualified foreign institutional investor (RQFII) licences. Plus, a recap of our stories this week.

The chief executive of Morgan Stanley Huaxin Securities Co, the US bank’s joint venture in China, has left the firm.