Greater China

China Grand Automotive Services Co and Poly Property Group raised $300m and $350m, respectively, on Tuesday, squeezing through a narrow window before the Hong Kong market closes for a four-day break.

Hong Kong-listed conglomerate Fosun International launched a $500m loan into general syndication this week, according to bankers close to the deal.

Some people may consider it a burden, but I like going to awards events hosted by financial publishers, especially now that I’ve retired. Schmoozing with my old buddies while enjoying some champagne and quality food is certainly not all that bad.

Asian bond issuers drew mixed responses this week as they pushed out last minute deals before regulatory funding quotas expire at the end of the month. As new issue premium demands and small fundraising sizes continue to hinder borrowers, attention has turned to whether the forthcoming holidays will bring a market reset. Morgan Davis reports.

Chinese authorities will provide more clarity on tax for offshore investors using Bond Connect and improve hedging tools for all foreign investors, a senior official at the People’s Bank of China told Euromoney’s China Debt Capital Markets Summit on Wednesday.

China has launched the second phase of the Cross-border Interbank Payment System (Cips), enabling international RMB-denominated transactions to take place across every time zone in the world.

Chinese hotel operator GreenTree Hospitality Group has sliced its $349.2m IPO of American Depositary Shares (ADS) to just over half the original size.

China’s Zhengzhou Zhongrui Industrial Group has sold a two year bond, making the unusual move of tightening pricing after releasing guidance at a fixed level. The issuer raised a small $85m, but still outdid some of its peers.

Chinese auto rental company Car made its debut in the offshore renminbi bond market on Monday, but had to settle for a modest deal size in exchange for an aggressive price.

China’s Agile Group Holdings and Taizhou Huaxin Pharmaceutical Investment Co reopened their old bonds on the back of some anchor orders on Monday, in an attempt to use as much of their fundraising quotas as possible before the end of the month.

Chinese live mobile streaming platform Inke is looking to float in Hong Kong, filing a draft prospectus with the city’s stock exchange.

Hong Kong’s Securities and Futures Commission (SFC) has asked IPO sponsors in the city to improve their standards, after discovering a number of compliance failures in their work.