Greater China

China’s Tianjin Rail Transit Group Co (TRT) and Chengdu Xingcheng Investment Group Co both dipped into the euro market on Tuesday, with the former printing a green bond.

The US Federal Reserve has admonished Industrial and Commercial Bank of China for falling foul of anti-money laundering rules, saying the lender failed to properly report suspicious activity at its New York branch.

In the fourth and final part of a series of articles on China’s financial transformation, GlobalRMB looks at the commodity trading markets. From the launch of a new energy exchange to the increasing domestic trading of crude oil, gold and iron contracts, the wheels are already in motion for major change.

GAC-Sofinco Auto Finance is preparing to sell a Rmb4bn ($633m) deal in the Chinese asset-backed securities market on March 20, set to be the third foreign name origination in three weeks.

Qatar National Bank has printed two dim sum bonds through JP Morgan, a bank whose commitment to Qatari issuers has been under scrutiny since the Middle East diplomatic crisis erupted in June 2017.

After months of anticipation, the Philippines is finally planning to come to the Panda bond market on March 20 for a Rmb1.46bn ($230m) three year deal.

The Singapore Exchange is firing shots at the Hong Kong Stock Exchange once again to lure IPO-hopefuls, this time over the city’s ever closer political relationship with China. But Hong Kong can boast some clear advantages over its rival.

China’s Xinyuan Real Estate Co has sold a par-priced $200m deal, paying one of the highest coupons for a public dollar bond in Asia so far this year.

South Korea’s Kookmin Bank returned to the Formosa bond market on Monday, raising $300m from a floating rate note (FRN). Taiwanese investors’ eagerness to buy Korean financial credits helped the issuer price a relatively cheap deal versus an international transaction.

China has brought its banking and insurance watchdogs under one roof, a move in line with its plans to consolidate government departments. The People’s Bank of China is set to gain an even broader mandate as a result of the change.

ANZ has hired Richard Dawson as the new head of loans and specialised finance, international, according to a Tuesday announcement.

As he heads towards the exit, Zhou Xiaochuan, the governor of the People’s Bank of China, is not only handing over the baton of RMB internationalisation to his successor, but to market participants as well. He also insisted the central bank will not let risk prevention get in the way of further reform.