Greater China

Electric vehicle manufacturer Li Auto sealed a scorching $1.1bn Nasdaq IPO this week, pricing above the marketed range to make it the largest US listing by a Chinese company in nearly two years. The deal proved there is still interest among mainland firms to list in the US, despite rising hostilities between the two countries, writes Jonathan Breen.

China Development Bank has raised Rmb10bn ($1.43bn) from a domestic green bond that won international certification. The policy bank made the rare move to sell the deal in different primary markets simultaneously, a further step in the closer union between China’s two big onshore debt markets. Addison Gong and Rebecca Feng report.

State Grid Corp of China, the world’s largest utility company, raised the equivalent of around $3.3bn from a four-tranche dollar and euro deal on Wednesday.

Chinese property companies Sunac China Holdings and Ronshine China Holdings came to the dollar market on Wednesday, both with four non-call two year bonds. But a smaller deal size helped Ronshine get away with a tight price.

Anta Sports Products and Shangri-La Asia are readying their debut Panda bond outings, according to regulatory filings seen by GlobalCapital China.

American expats have long looked at their low-tax paying peers with envy. While Englishmen, Frenchmen and others in Hong Kong have enjoyed a 17% maximum tax rate, those born in the US are also forced to pay taxes in their country of birth, even if they’ve been absent for decades.

SPDB loses investment banking head — MUFG names PF, ESG head for Oceania — Loans veteran Ooi moves to Sydney

China Construction Bank Co sold a $1.2bn dual-tranche green deal on Tuesday, becoming the first Chinese financial institution to sell a green dollar bond this year.

CSC Financial Co, better known as China Securities, raised $500m from the international bond market this week ─ generating an order book more than 12 times the size of the deal at its peak.

Country Garden Holdings Co, one of the biggest Chinese high yield property borrowers, returned to the bond market with a dual tranche deal on Tuesday, raising a combined $1bn from the transaction.

Chinese property and construction firm Jiangsu Zhongnan Construction Group Co raised $200m from a sub-one year bond deal on Tuesday

Chinese electric vehicle maker Li Auto has brought forward the close and pricing of its up to $950m Nasdaq listing after securing heavy demand for the deal.