Greater China

Industrial and Commercial Bank of China has added Vicky Chan, a loans banker from China Construction Bank, to its team following a restructuring of its origination and distribution business.

Two Chinese local government financing vehicles raised less than $100m each from the dollar bond market on Tuesday, in what is shaping up to be a relatively quiet week for debt issuance in Asia.

Mainland China’s sustainable bond market has gone from strength to strength recently, with issuers and investors finding new opportunities and embracing international standards.

Shanghai HeartCare Medical Technology Corp has kicked off the roadshow for its up to HK$11.3bn ($145m) IPO.

Tianjin Great Wall Binyin Automotive Finance Co has continued its foray into the internationally rated ABS market since its first such deal onshore over a year ago, returning for a Rmb3.2bn ($494m) transaction at the end of last week.

Chinese electric vehicle maker Li Auto has raised HK$11.8bn ($1.52bn) from a secondary listing that received strong support from investors.

Chinese property bond issuers continue to remain under pressure amid waning investor sentiment and underperformance of deals in the secondary market. While some companies are attempting to claw their way back, the sector still faces some big challenges.

Online music platform Cloud Village has delayed its IPO after a week of pre-marketing, according to a source familiar with the matter.

In this round-up, China’s foreign exchange reserves reach the highest level in five years, JP Morgan receives approval to fully own an onshore securities company, and Beijing launches a review of Blackstone’s $3.05bn take-private of Soho China.

Crédit Agricole has hired a senior China economist from Bank of America to head up its research team for Asia ex-Japan.

China Telecom Corp has priced its Rmb47.11bn ($7.3bn) A-share listing, a deal that is smaller than expected but will still set a global record for 2021.

China’s securitization market was bustling with deals this week. Toyota Motor Finance (China) Co followed Beijing Hyundai Auto Finance Co to launch a Rmb5bn ($774m) auto loan ABS deal, with two more transactions also in the works.