Greater China

Standard Chartered’s Renminbi Globalisation Index fell to a 39-month low in May as the offshore renminbi (CNH) liquidity pool shrinks. But the bank said the index figures do not yet reflect China’s recent efforts to internationalise the renminbi, such the launch of Bond Connect.

An institutional investor bagged HK$2.1bn ($268.8m) after offloading a chunk of its shares in property firm China Vanke last Friday, taking advantage of a jump in the company’s share price.

Oceanwide Holdings International is joining the rush of issuers selling bonds with tenors of less than one year, marketing a 363-day Reg S transaction to refinance debt.

Greentown China Holdings and ENN Energy Holdings are courting investors for new dollar deals this week.

China’s State Administration of Foreign Exchange (Safe) says the country will not devalue the renminbi, Hong Kong’s renminbi deposits fall in May, and China welcomes Japan to participate in One Belt One Road (OBOR).

Hong Kong Exchange (HKEX)’s chief executive Charles Li opened trading for the first RMB denominated gold futures contract on the exchange.

More banks now have the opportunity to join a HK$28bn ($3.6bn) financing to support the take-private of Hong Kong-listed footwear company Belle International Holdings, following a senior phase that attracted nine lenders.

Two shareholders pared down their stakes through separate block trades on Thursday as the stocks hit one-year highs, punctuating a relatively quiet week for overnight bookbuilds in Asia.

The head of BNP Paribas' renminbi competence centre is stepping in after the retirement of China head Peter Kwok.

Longfor Properties Co's debut in the investment grade debt market tested the leads’ abilities to find appropriate pricing for the deal. But the result was a thumbs-up in primary and secondary, as investors flocked to the $450m bond.

FIT Hon Teng has raised HK$2.67bn ($341.8m) after pricing its IPO near the midpoint of guidance following a flood of global demand, according to a banker close to the deal.

China’s FX reserves gained $3bn in June, the UK’s renminbi deposits grew in the first quarter of 2017, and China and Russia agreed to establish a joint investment fund for Belt and Road infrastructure projects.