Greater China

Nio, a Chinese electric car company, has started sounding out investors for its IPO on the New York Stock Exchange with an indicative size of $1.8bn.

China International Marine Containers plans to spin-off its vehicle manufacturing arm through a listing on the Main Board of the Hong Kong Stock Exchange.

Beijing Properties sold a two year bond last week after getting demand from some of the Chinese banks who joined the deal. That allowed the leads to launch the bond with little worry it would drag on over the weekend.

Chinese peer-to-peer lender Weidai is seeking an IPO on the New York Stock Exchange, even as the troubled sector continues to reel from tightening regulations.

The People’s Bank of China says it will not weaken the RMB amid rising trade tensions with the US, the banking and insurance regulator wants more lending to small businesses, and the former boss of the Chinese central bank argues that RMB internationalization should keep a low profile.

Taiwanese semiconductor producer Pan Jit International and its subsidiary Pan Jit Asia International are seeking a $190m-equivalent borrowing in two currencies.

The securities watchdog promises more relaxations for inbound investors, officials levy new tariffs on US goods as state media takes aim at critics at home, and a senior central bank official criticises the Ministry of Finance for not doing its job.

China’s foreign exchange reserves grow in July, renminbi derivatives in Singapore hit a new high as trade war escalates, official data shows a pick-up in exports from China to Belt and Road countries.

Ever Sunshine Lifestyle Services Group is planning a Hong Kong IPO, according to a draft prospectus it filed in the city on Thursday.

Hong Kong saw its second biotechnology listing this week, as BeiGene floated on the city’s stock exchange. But two days after listing it was under water and was followed by a double-digit dive by Ascletis Pharma, the sector’s debut issuer. The state of both stocks are a warning sign for future biotech issuers to rein in valuations, say ECM bankers. Jonathan Breen reports.

Chinese property companies have seen their funding options restricted in a variety of markets, leaving the offshore loans markets the only avenue for them to raise new funds. But loans bankers, who have long operated in an uneasy grey area for such deals, are worried they will be next in the firing line. Pan Yue reports.

Tsinghua University Science Park, or Tuspark, raised $350m from its bond sale on Wednesday, notably helped by 14 bookrunners.