Greater China

Huatai Securities looks set to be the first issuer to test the London-Shanghai Stock Connect, revealing plans to raise at least $500m from a Global Depositary Receipts sale.

Shandong Gold Mining has raised HK$4.8bn ($616.8m) after sealing its IPO at the bottom of price guidance, according to a senior banker on the deal.

Debt-strapped Wuzhou International Holdings will be unable to make payments on its $300m bond this week, adding to a spate of other non-payment situations, including failing to redeem a $100m convertible bond as well as defaulting on a renminbi note and on some of its loan obligations.

Chinese tire manufacturer Prinx Chengshan has opened books for its up to HK$1.01bn ($129.6m) IPO.

Hong Kong’s Securities and Futures Commission (SFC) laid out plans for the development of green finance in the city last Friday, coinciding with the launch of a new green finance association.

Nomura has brought a senior banker back into its fold to lead the convertible bond origination business in Asia ex-Japan, according to a memo seen by GlobalCapital Asia.

China’s Health and Happiness (H&H) International Holdings has cancelled an exchange offer as well as a concurrent new money issuance, becoming one of three issuers to pull deals this week, as bankers blame the recent explosive supply on weaker investor demand.

In this round up, CSOP Asset Management creates a new platform to facilitate global investors’ access to A-share alpha strategies, first participating firms in the London-Shanghai Connect emerge, and Hong Kong registers its highest volume of RMB clearing in August.

US president Donald Trump took things up a notch with more tariffs on Chinese imports imposed on Monday, forcing China to retaliate. Meanwhile, his chief economic advisor said trade talks were still possible and BlackRock’s CEO said the US economy may actually benefit from trade war in the short term.

In this round-up, Chinese premier Li Keqiang defends the pace of reform and opening up at the Summer Davos conference, the People’s Bank of China prepares to issue its first RMB bills in Hong Kong, and the National Development and Reform Commission (NDRC) paints a rosy picture of the Belt and Road Initiative (BRI).

Boutique investment bank China Renaissance has wrapped up its HK$2.7bn ($345.5m) IPO at the bottom of guidance, with the deal multiple times subscribed.

BOC Aviation made its fourth dollar market outing of the year on Wednesday, locking up $500m from a tightly priced floating rate transaction.