Greater China

Zhongrong Xinda Group Co and Jiangsu Nantong Sanjian Construction Group Co (JNTC) are set to make their debuts in the international bond market on Thursday, as Tongchuangjiuding Investment Management Group Co returns for a tap.

The market for credit default swaps (CDS) in China is still in its very early stages, but the government is looking to promote their use and the first foreign bank has already got involved.

China Merchants Bank is marketing its inaugural dollar-denominated Basel III additional tier one transaction, which analysts say is attractive to investors.

China Development Bank Financial Leasing Co priced its 5.5 and 10 year bonds inside its curve on Tuesday, amid a busy day for Asia’s primary bond market.

The Korea Development Bank grabbed $300m from a Formosa deal on Tuesday, catering to Taiwanese investors' demand for South Korean paper.

Chinese micro-lender Qudian has bagged $900m from its US listing, after robust demand allowed it to price the stock above the initial range, according to a banker close to the deal.

Four Chinese corporations priced a total of $1.175bn of bonds on Tuesday, the day before the start of the Communist Party’s five-yearly congress.

China will allow the markets to have a greater influence on the renminbi’s exchange rate, Xi Jinping, president of China, said in the opening speech of the 19th Communist Party Congress on Wednesday.

There has been a change in leadership of the loan syndications department at China Minsheng Bank in Hong Kong, according to sources close to the matter.

Internet gaming company Razer has kicked off investor education for its $500m Hong Kong IPO, which is expected to hit screens at the end of the month.

China’s economic growth will do little to help promote renminbi internationalisation, according to an October 17 report by Swift. The comment came as the renminbi falls to eighth place in the league table of the world’s most used payment currencies.

China Merchants Bank has named the leads on its proposed dollar additional tier one transaction, two months after receiving regulatory approval.