Greater China

China Merchants Bank priced its debut Basel III additional tier one dollar bond on Thursday, 10bp inside the main comparable, as the small deal size and rarity value proved attractive.

Expectations were low for breakthrough announcements on financial markets reform ahead of the Communist Party Congress, which started Wednesday. But regulators have dropped a few hints at what might be in store for the renminbi internationalisation (RMBi) agenda and the opening of the banking sector.

China-based Rise Education has wrapped up a Nasdaq IPO worth $159.5m after pricing the stock above the initial guidance range, according to a source close to the deal.

Two credit rating downgrades of Dalian Wanda Commercial Properties (DWCP) have put its offshore loans in lenders’ cross-hairs. DWCP is talking to its lenders, who have the power to force an acceleration of payments. Shruti Chaturvedi reports.

Baidu has picked banks to list its video streaming arm in the US, as a host of Chinese issuers stormed into Wall Street this week for their IPOs.

China Minsheng Bank has named Sheau Huei Wang as the new head of syndicated finance, succeeding Foster Lee who left the firm earlier this month.

Qudian priced its $900m US float above the initial range this week, then soared as much as 48% on its debut, underscoring investors’ ravenous appetite for Chinese fintech stocks.

China is preparing to challenge South Korea as the tightest-priced sovereign issuer in Asia, as it lines up its first dollar bond in a decade next week. The market expects China to take an aggressive approach for the deal, which could reset the curve for all of the country’s debt issuers. Morgan Davis reports.

China Literature, the e-book subsidiary of Chinese tech firm Tencent, is on track for a red-hot IPO after shadow orders immediately flooded in during pre-marketing. Some smaller companies have already delayed their IPOs to avoid being eclipsed by a deal that looks sure to dominate discussion in the coming weeks. Jonathan Breen reports.

As winter creeps up on us, it is time to celebrate that cherished time of year when people come together in a spirit of love, fraternity, and violent rivalry. Yes, it is awards season.

China will not amend the RMB trading band in the near term, Zhou Xiaochuan, governor of the People’s Bank of China, said on October 19. Zhou made the remarks shortly after the central bank defended its recent changes to the FX rate mechanism in a report.

China Grand Automative Services Co, a car dealership, is readying a return to the international debt market, hiring two banks for a senior perpetual bond.