Greater China

Emerging market consumer lender Home Credit will list on Hong Kong’s stock exchange in early October, despite political unrest-driven volatility that has scared off other issuers, according to a source close to the deal. Jonathan Breen reports.

CLSA, the international arm of China’s Citic Securities, has recently made three senior hires in its global debt financing team.

Being a banker is no longer about being book smart, but more about being street smart, in the age of phishing scams.

Sunac China Holdings has raised a $280m loan term from five lenders.

China introduced its new benchmark rate, the loan prime rate (LPR), over the weekend, with the first rate published on Tuesday. The reform, which aims to help companies lower their funding costs, is likely to boost the onshore market but will make the already slow offshore market even more difficult.

China unveiled a new benchmark rate, the loan prime rate (LPR), for loans this week. While hailed as a groundbreaking step towards making its benchmark lending rate more market-driven, the mechanism for determining the LPR in fact grants the central bank more control over the country’s interest rates.

Far East Consortium International (FEC) is in talks with banks to raise a bridge facility of around HK$1bn ($127m) to support its acquisition of a land plot in Kai Tak, this site of Hong Kong's old airport, from the government.

The price of real estate developer Kaisa Group Holdings' dollar bonds climbed after China announced a detailed plan over the weekend to develop the company's hometown, Shenzhen.

In this round-up, the People’s Bank of China announced a new benchmark rate for loans, a reported 1.7 million people held a rally in Hong Kong on Sunday and the issuance of Chinese onshore credit bonds climbed in July

The People’s Bank of China (PBoC) unveiled a new benchmark rate for bank loans on Saturday. The loan prime rate (LPR) will replace the current one-year lending rate, which has stood still for four years at 4.35%, as the new benchmark. The move is aimed at making the lending rates more market-based and lowering the funding cost for the real economy, analysts say.

Fujian Zhanglong Group Co skirted the market volatility last week to seal a $500m deal on Friday, using up its regulatory offshore quota.

In this round-up, China’s money and credit growth disappointed, industrial production growth plunged and Hong Kong Stock Exchange posted lower trading fees but higher listing fees for July.