Greater China

Qinghai Provincial Investment Group has once again put state support for Chinese local government financing vehicles (LGFVs) under the microscope, after reportedly missing a coupon payment at the end of last week.

In this round-up, US president Donald Trump extended the March 1 trade negotiation deadline, Bond Connect established an online information platform on the Chinese primary market and the Shanghai Stock Exchange finished soliciting public opinion on tech board rules

Taishin Financial Leasing (China) is making its debut in the offshore loan market with an $80m borrowing helmed by Bank Sinopac.

Bank of Communication Financial Leasing has launched a $270m three year loan into general syndication, turning to onshore Chinese banks with stockpiles of dollars.

Former Bank of China syndicate head Sebastian Ha has joined SPDB International as its head of fixed income.

Property companies in Greater China raised more than $6bn from the bond market this week, sparking fears of indigestion.

China Fortune Land Development tapped the bond market with a $530m two year deal, generating a final order book that was almost 10 times covered as it attempts to draw a line under a difficult 2018.

In this round-up, trade talks continued in Washington DC on Thursday and Friday, Greater Bay Area development plans focused on Belt and Road and RMB internationalisation and Norman Chan announced his retirement from the HKMA.

In this round-up, Malaysia's finance minister said his country may sell a Panda bond, the HKMA and the PBOC are working on cross-border mobile payments and Chinese issuers raised $8bn from the offshore market.

CStone Pharmaceuticals will list Hong Kong’s first biotech IPO of 2019 next week, getting things moving with a deal that bankers said is a sign of a maturing market after 2018's rush of deals.

China Construction Bank (CCB) and China Citic Bank International this week priced Basel III-compliant tier two deals, raising $2.35bn between them. The deals represent only the latest supply from Asia’s bank capital market, which is gearing up for a busy year. Addison Gong reports.

China’s Fujian Yango Group Co this week set out a dramatic rise in the coupon on an outstanding bond, in a bid to avoid an investor put in April. The move left market participants confused, with one calling it ‘very odd’.