Greater China

European regulators are nearing a move to allow Ucits to invest in China through Bond Connect.

ZhongAn Online P&C Insurance Co has raised HK$11.9bn ($1.5bn) after pricing its hugely popular Hong Kong IPO at the top of guidance, according to a banker on the deal.

Rating agency S&P downgraded China's long-term sovereign rating from AA- to A+ on Thursday, stating the high levels of credit growth pose growing risks to the economy. In this lowdown, we touch on some of the key issues raised by S&P and the market reactions to the decision.

Two Chinese firms have received the National Development and Reform Commission’s approval to tap the offshore loan market for funding.

Chinese online retailer of luxury goods Secoo Holding priced its $110.5m listing of American Depository Shares on Thursday, finding favour among investors thanks to an attractive discount.

Royal Bank of Canada bagged Rmb900m ($136.57m) from its inaugural public offshore renminbi bond on Friday, making it just the third issuer to seal a dim sum bond this year.

Samson Paper raised HK$780m ($100m) from its latest outing to the syndicated loan market, with strong demand lifting the deal from an initial size of HK$570m.

Tianjin Real Estate Group Co raised $100m from a 4.5% bond on Friday, the lone Asian issuer to have priced a transaction.

Net FX sales by Chinese bank are down 75% month-on-month in August, an advisor to the People’s Bank of China urges push for renminbi internationalisation as the currency strengthens, and Portugal hires banks for its first Panda bond issuance.

There was relief all round this week after Hong Kong's financial regulator backed down from a contentious plan to increase its involvement in listing approvals, and also gave the market some much-needed clarity on its role in IPOs, writes Jonathan Breen.

It has been a tough year for Chinese issuers as they battle with the National Development and Reform Commission (NDRC) to get go-aheads for offshore bond sales. But the regulator’s snail-like approval process appears to be crawling to a near standstill ahead of the National Congress of the Communist Party, leaving bankers befuddled about what to expect for the rest of the year. Morgan Davis reports.

Bank of Tokyo-Mitsubishi UFJ cleaned up its position in CIMB Group this week, offloading more than 400m shares in an accelerated bookbuild to raise MR2.55bn ($607m).