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  • Ant Group has picked two large Chinese securities houses as advisors for the China leg of its dual listing in Hong Kong and Shanghai. The duo are also likely to be the sponsors for the much-anticipated deal.
  • Troubled Chinese property developer Tahoe Group, which has revealed a plunge in revenues and big losses for the first half of 2020, has defaulted for the fourth time in just 40 days.
  • Nongfu Spring, a Chinese bottled water and beverage company, has kicked off pre-deal investor education for its Hong Kong IPO.
  • China’s local government financing vehicles (LGFVs) have seen strong appetite for their dollar bonds recently, allowing them to price deals at new lows, as a combination of attractive returns and expectations of state support amid Covid-19 wins over investors.
  • Chinese biotechnology company JW (Cayman) Therapeutics is planning to float on Hong Kong’s stock exchange. It has filed a draft prospectus with the bourse.
  • In this round-up, the six month review of the US-China trade deal has been delayed, the head of the Chinese banking and insurance regulator talks about non-performing loan risk and the resurgence of shadow banking activity, and the Hang Seng Index begins including secondary listed companies and those with weighted voting rights.