Greater China

Property manager China Resources Mixc Lifestyle Services is planning an IPO on Hong Kong’s stock exchange, getting the ball rolling with an application to the bourse this week.

Hong Kong property developer Nan Fung International Holdings returned to the market with a $500m fixed-for-life perpetual bond in a bid to manage its liabilities and score lower interest rate for its debt.

Modern Land (China) Co received an 18 times oversubscribed book for a $100m tap of two of its green bonds, as investors threw their weight behind the Chinese property developer’s deal.

ZhongAn Online P&C Insurance Co was back in the dollar market on Monday, less than two months after making its debut.

Fosun International has pocketed HK$2.45bn ($316.3m) after selling a chunk of Tsingtao Brewery's stock in a block trade, according to a source familiar with the matter.

Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has played a pre-eminent role in tackling Covid-19 this year, mainly by offering financial support to countries like Uzbekistan, Pakistan and Vietnam to combat the impact of the pandemic. But its work is not nearly over, as second and third waves of the coronavirus hit countries around the world.

Richard Gould is leaving CLSA, the international platform of China's Citic Securities, after spending less than 18 months as its chief executive.

Bottled water and beverage company Nongfu Spring has taken advantage of a flood of demand from institutional and retail investors for its Hong Kong IPO to price the HK$8.35bn ($1.08bn) deal at the top of guidance.

Yum China Holdings, a fast food restaurant franchiser, launched the roadshow for its secondary listing in Hong Kong on Monday to strong early momentum from investors.

In this round-up, China’s official Purchasing Managers’ Index (PMI) for August misses expectations by a small margin, BlackRock becomes the first global asset manager to enter the mutual fund industry onshore, and the sale of TikTok’s US operations faces new challenges as Beijing tightens technology export controls.

The administrator of Peking University Founder Group’s debt has decided not to recognise the dollar bonds that came with a keepwell deed and deed of equity interest purchase undertaking, a move that can have a ‘major impact’ on the region’s debt market.

In this round-up, senior trade officials from China and the US hold ‘constructive’ talks, the securities regulator publishes the latest ratings for Mainland brokerages, and the Shenzhen exchange hopes to attract listings from companies with weighted voting rights (WVR).