Greater China

Lyndon Chao has been announced as the new head of equities at the Asia Securities Industry & Financial Markets Association (Asifma), replacing Nicholas Ronalds.

Ford Automotive Finance (China) has pulled off an impressive return to China’s auto ABS market. The company raised an eye-catching Rmb3.46bn ($518.4m) from its latest deal — and brought in the first crop of foreign investors tapping Chinese ABS through Bond Connect.

Zhongtai Securities Co priced its first international bond on Thursday, finding a narrow window to bag $300m before markets turned volatile once again.

JP Morgan has appointed a vice-chairwoman of global investment banking (GIB) for China as it continues to grow in the market.

Barclays is rebuilding its franchise in Asia Pacific with three senior hires focusing on the China and Japan markets, according to a memo seen by GlobalCapital Asia.

The pipeline for additional tier one issuance from Chinese banks is building up unabated, with Bank of Jinzhou receiving approval from the China Banking Regulatory Commission to raise up to Rmb10bn ($1.5bn).

The State Council publishes a series of policies to attract foreign investment, a People’s Bank of China (PBoC) advisor said China will unlikely follow the Federal Reserve in hiking rates this year, and the Ministry of Commerce (MofCom) criticises an US investigation into intellectual property rights in China.

Deutsche Borse is preparing to launch a Bond Connect offering later this year to further facilitate China access, but data from across the market shows global investors are still weighing up the China fixed income opportunity.

Chinese live streaming platform YY tapped the US market this week with a block sale of American Depositary Shares (ADS), capitalising on a surging stock price. Bankers are preparing for a raft of similar block sales — as well as a growing list of US IPOs from Chinese companies. Jonathan Breen and John Loh report.

Shenzhen-listed Changjiang Securities Co is planning to list its offshore arm in Hong Kong, having gained China Securities Regulatory Commission approval.

Peugeot Citroën’s joint venture in China is set to return to the China ABS market after a year away. The auto maker will offer investors only one tranche, down from the two tranches in its 2016 debut, but the deal size will triple to Rmb3bn ($449.8m).

Cheung Kong Infrastructure Holdings sold a fixed-for-life hybrid bond denominated in dollars on Wednesday. The deal did not draw an overwhelming response, but market participants said overall demand for the structure is muted.