Greater China
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The surprise takeover of troubled Baoshang Bank, together with the resignation of Bank of Jinzhou’s auditor, is a wake-up call for a market that had enjoyed a rosy outlook. -
Rabobank’s Adam Wotton is set to move to HSBC’s leveraged and acquisition finance team as a director.
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Industrial and Commercial Bank of China (ICBC) hit two parts of the dollar curve on June 3, selling two tranches of floating rate notes worth $750m each.
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Bank of Jinzhou’s outstanding additional tier one (AT1) dollar notes took a beating in the secondary trading after its auditors resigned, amid concerns about the asset quality of lower tier Mainland banks since the takeover of Baoshang Bank by Chinese authorities.
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In this round up, the Ministry of Commerce (MoC) is planning to publish a list of ‘unreliable entities’, clearly echoing the US’s ‘entities list’, the State Council issued a white paper detailing China’s stance on trade tensions, and the People’s Bank of China (PBoC) said its takeover of Baoshang is a ‘one-off’.
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Tang Zhenyi, the former chairman of CLSA, is set to start at Credit Suisse as the chief executive for China later this month.
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Chinese private higher education provider JH Educational Technology has opened the book for its $98m offering on the Hong Kong Stock Exchange.
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Jefferies has hired CLSA's Christopher Wood as global head of equity strategy.
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Sichuan Languang Development made a quick return to the market on Thursday, tapping bonds it sold in April in what was its fourth outing since debuting in the dollar market last September.
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In this round up, China floated rare earth exports as a weapon in its trade war with the US, May’s PMI fell across the board and the People’s Bank of China (PBoC) activated a fund to protect domestic depositors’ savings
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ESR Cayman is poised to launch its Hong Kong Stock Exchange IPO next week.
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