Greater China

Bank of China Group Investment, a Hong Kong-based wholly owned subsidiary of Bank of China, will price a Rmb2bn ($290m) three year note on Tuesday. But some rivals have raised questions about whether the deal is a true funding exercise.

Zhongyu Gas Holding has returned to the offshore loan market for its second borrowing this year, offering a $250m three year facility.

Shanghai Henlius Biotech has joined a growing pipeline of biotechnology firms planning to float in Hong Kong. It wants to list in the first quarter of 2019, said a banker working on the transaction.

Bonds issued by China’s Kangde Xin Composite Material Group plummeted in the secondary market on Monday, losing around a third of their value after rumours of an onshore default.

Shanghai Junshi Biosciences has raised HK$3.08bn ($394.2m) after pricing its IPO at the bottom of the range, according to a banker on the deal.

Bank of Jinzhou is planning to raise HK$8.22bn ($1.05bn) through a private placement of H-shares, according to a filing with the Hong Kong Stock Exchange.

Regulators agreed to impose a tighter identification regime for southbound trading of Stock Connect, foreign direct investment (FDI) into China dropped for the third month, and the Ministry of Finance (MoF) confirmed temporary import tariff cuts for automobiles from the US.

Citi is pulling out of its China securities joint venture. It gave its partner notice at the end of last week.

In this round-up, total social financing (TSF) rebounded in November, auto sales plummeted for the fifth consecutive month, and Standard Chartered’s renminbi globalisation index (RGI) fell for the first time in six months.

Xinyi Energy Group (XYE) has cancelled its potential HK$4.5bn ($575.8m) IPO in response to choppy markets. It was planning to debut on the Hong Kong Stock Exchange on December 21.

In this round up, Hong Kong's Securities and Futures Commission put an ETF link on hold, venture capital funds will get more tax cuts, and Hong Kong signed up to the fourth closer economic partnership agreement with the Mainland.

China has rolled out trade concessions to the United States, signalling a willingness to negotiate before the trade war gets out of control. But it has also increased its rhetoric over the arrest of Huawei’s chief financial officer in Canada.