Greater China

The stock exchanges in Shanghai and Shenzhen have introduced new regulations to forcibly delist companies, fast-tracking the process and giving more clarity about the various scenarios that can push firms to exit the bourses. There are loopholes, however, and the true impact of the regime on China’s equities market will probably be limited, writes Addison Gong.

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BMW Automotive Finance (China) Co and SAIC-GMAC Automotive Finance Co are edging closer to sealing their first China auto loan asset-backed securitization deals of the year.

Issuers from Greater China flooded the market with dollar deals on Tuesday, capitalising on strong appetite from investors ready to put money to work in the new year.

The nascent transition bond market is set to get a boost after Bank of China announced plans for a new deal in both dollars and offshore renminbi.

Chinese toll road operator Zhejiang Expressway kick-started Asia's equity-linked market this week, dipping into euros for the year’s first convertible bond. It plans to use all the proceeds to repay debt.

Dollar bond issuance from Chinese property companies went up a notch on Tuesday with seven firms printing deals. On Monday, the first working day of the New Year in the region, four Mainland developers had wooed investors.

Shangri-La Asia, the investment holding company of hotel operator Shangri-La Group, has hired two banks to lead a Rmb1bn ($155m) Panda bond, its first in the currency.

The New York Stock Exchange has dropped plans to delist the stocks of China Mobile, China Telecom Corp and China Unicom (Hong Kong).

The stock exchanges in Shanghai and Shenzhen have heeded increasing calls from the market for a revision to their delisting rules by introducing tougher measures and a faster process to remove companies from their bourse.

Chinese clinical-stage company Gracell Biotechnologies has kicked off the roadshow for its Nasdaq listing, eyeing up to $158.9m in proceeds.

Hong Kong’s block market surged back to life on Monday night with a flurry of share sales worth a total of HK$14.19bn ($1.83bn).