Greater China

Chinese property developer Gemdale Corp priced a $150m bond on Thursday, but told investors not to put in any orders after price guidance was released — a move that surprised many debt bankers.

Chinese integrated online healthcare provider 111 has opened books for its IPO of American Depository Shares (ADS), which is slated to raise $148.8m.

Biotechnology firm Hua Medicine has launched bookbuilding for its Hong Kong IPO, targeting up to HK$972.1m ($123.9m) in proceeds.

A top Chinese automaker and Hong Kong listed-Xinyi Glass Holdings are separately sounding out banks for new syndicated financings.

The Chinese president marks the fifth anniversary of the Belt and Road Initiative (BRI), the US finance minister says China’s support for the renminbi does not count as currency manipulation, and the State Council clarifies its tax collection policy for Bond Connect investors.

The Republic of Philippines plans a comeback deal in the onshore bond market, the second batch of MSCI A-shares inclusions goes live today, and China’s bourses get a boost as they close in on buying 25% of Dhaka Stock Exchange.

The queue of Chinese companies seeking Hong Kong IPOs continues to grow, with one firm looking for the regulatory greenlight, and another issuer reviving its listing plans this week.

Goldman hires from IMF — UBS adds to debt origination — Bank Alfalah, CLSA ink pact for Pakistan — Credit Suisse taps Japan CEO — PNB scoops up former HSBC banker

Interest among Chinese companies to list in the US continues to remain strong, with personal finance company X Financial and internet firm Viomi setting the stage for their IPOs.

Three Chinese local government financing vehicles (LGFVs) priced dollar bonds this week, despite a recent default in the onshore debt market.

A pair of Chinese borrowers broke the lull in new loan syndications from north Asia this week, seeking a combined $450m from their latest fundraisings.

Almost six years after China’s asset-backed securities market was rebooted, regulators are still struggling to put together legislation for securitization, casting a shadow over the market’s development, writes Noah Sin.