Greater China

China’s Guangdong Lingyi iTech Manufacturing Co, a company focused on making magnetic materials, electric motors and electric wires for automobiles, computers and mobile phones, has hit the market for a $150m loan.

China’s YishengBio is planning to list in Hong Kong, having filed an IPO application with the bourse on Monday.

The Asian Development Bank is marketing a five year renminbi-denominated bond, as it looks to raise Rmb2bn ($307m) from its first outing in the onshore China market in over a decade.

Real estate developer China Aoyuan Group has closed a $225m-equivalent dual currency loan with nine banks in the syndicate.

Aluminium producer China Hongqiao Group has returned to the loan market for a $200m borrowing.

Zhihu, China’s largest question-and-answer platform, has set its New York Stock Exchange IPO in motion.

In this round-up, smaller Chinese firms see the slowest growth in manufacturing and services activity since mid-2020, the head of the Chinese banking and insurance regulator is wary of bubbles bursting in foreign markets, and the onshore sale of the so-called ‘carbon neutrality bonds’ moves from the interbank market to the smaller exchange market.

In this special round-up on China’s annual Two Sessions parliamentary meeting, the central government sets a conservative annual growth target for the Chinese economy in 2021, signals a modest tightening in fiscal and monetary policies, and plans to broaden regulatory oversight of the fintech sector.

Sinic Service (Holdings) is gearing up for a listing in Hong Kong, adding further momentum to the IPO market of Chinese property management service providers.

Genius Auto Finance Co priced its first auto ABS outing of the year under the Generation series on Thursday. It sold the senior class A1 tranche of the Rmb4.7bn ($726.8m) transaction at a negative spread to the onshore pricing benchmark and inside a comparable trade from this week.

China Everbright Bank switched things up for its $550m deal this week, by opting for a fixed rate note rather than the floating rate bonds it has favoured more recently.