Greater China

The economic dialogue between Beijing and Washington could determine how far and fast China will allow foreign ownership to expand in its banking sector, according to Jing Ulrich, vice chairman of Asia Pacific at JP Morgan.

Hong Kong-listed 13 Holdings is planning a rights issue of up to HK$1.15bn ($147.8m) to help restart the development of its luxury Macau destination, The 13 Hotel.

Chinese state-owned power company China Huaneng Group opened the week with a senior perpetual bond following an Asian roadshow that took place last week.

Jianpu Technology has filed for a $200m listing of American Depositary Shares, tapping three bulge bracket banks as underwriters. Hong Kong-based iClick Interactive Asia Group, meanwhile, is eyeing $100m.

Tencent-backed China Literature has kicked off bookbuilding for a Hong Kong IPO that could raise up to HK$8.32bn ($1.07bn), according to a term sheet seen by GlobalCapital Asia.

The Shenzhen Stock Exchange (SZSE) wants Panda bond issuers to raise RMB funding in Shenzhen for Belt and Road projects, the governments of Guangdong, Hong Kong and Macau plan new scheme to allow greater use of renminbi in the region, and the Moscow branch of Industrial and Commercial Bank of China (ICBC) becomes an interbank FX lending member.

China Merchants Bank priced its debut Basel III-compliant additional tier one dollar bond on Thursday, closing the bond 10bp inside its main comparable after a small size and some rarity value proved decisive.

Nasdaq-listed China XD Plastics Co is in the loan market for a $300m financing, returning one year after signing its last deal.

China Forestry Group has tied up its first international syndicated loan at HK$4bn ($513m), twice the launch size, as commitments flooded in from 18 banks during syndication.

A slew of new dollar deals hit the debt market on Thursday, with all of them easily gobbled up by investors.

China’s Ministry of Finance (MoF) has decided not to acquire a credit rating for its forthcoming dollar bond issuance – the country’s first dollar bond in over a decade. The news came as MoF mandated 10 banks as bookrunners and managers, including four foreign entities.

The head of China Banking Regulatory Commission (CBRC) says financial regulations in China will become stricter in future, the Chinese economy grows by 6.8% in the third quarter, the US backtracks from labelling China a currency manipulator ahead of president Donald Trump’s visit to China.