Greater China

Suzhou SND Group Co, a Chinese local government financing vehicle (LGFV), got lukewarm support for its debut dollar bond on Monday, forcing it to offer a bit of premium to get its deal past the finish line.

Chinese financial technology company Bairong is targeting Hong Kong for its IPO, having filed a draft prospectus with the city’s bourse.

Yongcheng Coal and Electricity Group Co and Tsinghua Unigroup Co, which together have Rmb40bn ($6.1bn) of bonds outstanding in China’s domestic market, have told investors to expect more non-payments this month following a spate of recent defaults.

Chinese electric vehicle manufacturer Xpeng is selling a chunk of new American Depository Shares (ADS) to fund research and development and further expansion.

Hong Kong’s personal loan provider, United Asia Finance, has returned to the market for its annual borrowing. It is seeking a HK$1.2bn ($154.8m) facility.

Harbour Biomed has pocketed HK$1.71bn ($220.8m) by pricing its IPO just above the mid point of the marketed range.

Jinan Lixia Holding Group Co came to the dollar bond market at the end of last week, bagging $300m from a three year deal.

Vesync, a home appliance retailer, kicked off the roadshow for its up to HK$1.55bn ($200.1m) IPO in Hong Kong on Monday, with the company's growth story during the pandemic expected to appeal to investors.

In this round-up, China posts stronger-than-expected export data for November, the banking and insurance regulator fines Bank of China over ‘irregularities’ in a crude oil product, and an Ant Group unit and a Greenland-led consortium win digital banking licences.

Beijing Construction Engineering Group has received strong response from the market for its second loan of the year. The $350m deal is expected to be signed before the end of December.

Dada Nexus, which operates on-demand retail and delivery platforms in China, raised $450m this week after selling a chunk of new equity.

In this round-up, China unveils guidelines to assess its domestic systemically important banks, both the November Caixin China manufacturing and general services Purchasing Managers’ Indexes beat expectations, and the US House of Representatives waves through a bill that could delist Chinese companies from its stock exchanges.