Greater China

More widespread use of the International Monetary Fund's special drawing rights could prevent a currency war, Thierry de Longuemar, chief financial officer at the Asian Infrastructure Investment Bank (AIIB), said on May 4. But the treasurer got little sympathy from other experts at the Asian Development Bank’s meeting.

China's Ascletis Pharma has emerged as the first biotechnology firm to test the waters of Hong Kong’s new listing regime, after filing a draft prospectus on Monday.

Barclays has named veteran prime broker and ex-Credit Suisse executive Matt Pecot as head of equities for Asia Pacific.

Nomura appointed Ting Lu, a former research head at Huatai Securities, as its chief China economist on Tuesday.

Kangde Xin Composite Material Group has made its debut in the offshore loan market, launching a $200m three year deal into syndication.

Chinese telecommunications firm ZTE Corp, which has failed to comply with a covenant on a $450m syndicated loan due in July, has requested lenders to waive the breach, according to bankers close to the situation.

Chinese company Avic International Leasing has returned to the offshore loan market for a $200m borrowing, according to a banker who has received the invitation.

South Korea’s Busan Bank raised Rmb500m ($78.62m) from its first Formosa bond last Friday, taking advantage of the arbitrage opportunity to swap the deal back to dollars.

The Asian Development Bank (ADB) is struggling to find the long term RMB funding it needs in both onshore and offshore markets, treasurers at the development bank told GlobalRMB at their head office in Manila.

Chinese property developer Kaisa Group Holdings has tapped Edward Lau Fu Keung, a former Deutsche Bank employee, as its chief financial officer.

Welcome back to our Monday newsletter. In this round-up, Trump dream team hits Great Wall, Bond Connect flows keep growing and new Shanghai Stock Exchange chairman is appointed.

Property firm Greentown China Holdings has returned to the offshore debt market for a $630m term loan to refinance a similar deal sealed in 2016.