China

There’s now only five months until the renminbi enters the IMF’s special drawing rights basket in October. But while this shows the progress the RMB has made, panelists at a recent conference are not expecting full convertibility anytime soon.

Shanghai Clearing House (SHCH) plans to launch a Shanghai Free Trade Zone (FTZ) offshore renminbi bond market in May, according to documents seen by GlobalRMB.

Huawei Investment & Holding Co is out with a new 10 year dollar trade, while China Aircraft Leasing Group (CALC) has also taken off for its debut international bond.

Shanghai Clearing House (SHCH) plans to launch a Shanghai Free Trade Zone (FTZ) offshore renminbi bond market in May, according to documents seen by GlobalRMB.

Climate Bonds Initiative (CBI) and the International Institute for Sustainable Development (IISD) have launched the China Roadmap 2016 report outlining the prospects for the country’s booming green bond market.

Fantasia Holdings Group sold the first high yield offshore renminbi bond since last summer, pricing a Rmb600m ($92.4m) three year on Tuesday. Although market participants welcomed new activity in the moribund dim sum market, the outlook for more issuance is bleak.

China's transition from an investment to a consumption economy is moving forward, but GDP growth concerns are likely to delay the country’s reform agenda.

Citi has promoted Christine Lam to the role of country head for China, where she will oversee all of the bank’s businesses and franchise operations in the country.

Crédit Agricole has issued year’s first Formosa bond, which is also the first renminbi transaction to be sold in Taiwan since last August.

Law firm Clifford Chance has made several senior appointments in Asia Pacific in a bid to strengthen its businesses in the region.

The limited syndication process for a multi-currency financing for affiliates of Sino Horizon has begun with one bank at the helm.

China Petroleum & Chemical Corp (Sinopec) fetched $3bn from a multi-tranche dollar deal on Monday that saw a 30 note added mid-way due to reverse enquiry. But unlike its last outing, the oil and gas giant kept the size relatively small in favour of tight pricing.