Greater China

African countries are moving full steam ahead to develop their economies through Chinese-funded railway infrastructure, hoping faster growth will forestall concerns about the costs and their ability to pay it back.

The twice-in-a-decade summit of China’s National Party Congress next week could see premier Xi Jinping take on Mao’s mantle of party chairman and extend his power yet further.

China’s Haier Group Corp made a splash in the international market late week, pulling off a $1bn perpetual bond.

This article is the third part in a series of four on China’s Belt and Road Initiative that we are publishing during the 2017 IMF-World Bank annual meetings in Washington DC. We have devoted two articles to the Road element and two to the Belt element, of which this piece is the first and focuses on the Asian part of the overland route

The governor of the People’s Bank of China calls for capital controls to be scaled back, Hong Kong’s chief executive says the city will expand its RMB business by increasing the level of cross-border fund flows, and RMB deposits in the UK grow in the second quarter.

Dongfeng-Nissan Auto Finance has tapped the Chinese asset-backed securities (ABS) market for a third time this year with a Rmb3.5bn ($531.9m) two-tranche deal. The company made its first attempt to attract foreign investors trading through Bond Connect in the October 12 deal – with mixed results.

China National Chemical Corp (ChemChina) has approached banks for a $5.5bn two tranche borrowing to help refinance a $12.7bn acquisition loan signed last September.

CDB Leasing is on the road pitching a dollar bond deal which it wants to price as early as Monday, just ahead of the 19th National Congress of the Communist Party of China.

Zhongrong Xinda Group Co is planning to debut in the international bond market, after mandating four firms to lead a Reg S transaction. The roadshow will take place early next week.

Two North Asian issuers raised $608m in separate overnight primary equity placements on Thursday after both deals were fully upsized, although they priced near the bottom of their respective offering ranges.

Market participants in Hong Kong have welcomed plans by regulators to install a new investor identification mechanism, which will require northbound investors participating in Stock Connect to reveal their identities by the middle of 2018.

Citi has hired Guorong Jiang as chairman and head of corporate and investment banking for China, according to a press release the bank sent out on Friday.