Greater China

Macquarie’s head of ECM origination for Asia has left the firm, sources close to the move have told GlobalCapital Asia.

Global hair goods manufacturer Evergreen Products Group is looking to float in Hong Kong, and has submitted a draft prospectus for approval with the city’s exchange.

China Petrochemical Corp was out for a 144A/Reg S transaction on Wednesday, eyeing multiple maturities, while high yield issuer Jingrui Holdings has returned to dollars after a two year hiatus.

Natixis this week named Kenneth Lee as head of its Asia Pacific DCM syndicate team.

New data from the IMF shows RMB-denominated reserves remain a drop in the ocean for global central banks.. But while experts expect the share to rise, it might not happen in the short run.

To many, the 85% collapse in the share price of China Huishan Dairy Holdings Co on March 24 came as a complete surprise. With now all of the company’s non-executive directors having tendered their resignations (in the process also effectively wiping out Huishan’s audit committee), the company’s key treasury executive still missing, and the controlling shareholder seemingly heading for the exit amid talk of margin calls, the milk producer’s short stint as a public company increasingly looks like a horror story, writes Clawback.

China’s private banking industry is growing in leaps and bounds. High and ultra-high net-worth mainland customers are increasingly mobile, demanding best-in-class service from their financial providers. Banks are adapting to the changing world, rolling out innovative and sophisticated services to their high-end clientele. In recognition of China’s advances in the field, Asiamoney is proud to announce the winners of its awards for best mainland private banks for 2016

Last year was a watershed for Chinese investment banking, with firms from the mainland capturing a bigger share of business from across Asia as their international peers struggled to compete. In many cases, global banks were forced to rethink their business strategies in the region, including substantial jobs cuts. The shift was recognized across the industry as Chinese banks combined their balance sheets, strong onshore relationships and growing sophistication to work on the region’s juiciest deals. The standout deals reflect the internationalization of Chinese capital markets as cross-border activity picks up and assets classes such as green bonds and securitization become more widely accepted. The result is that bankers continue to push the boundaries of what is possible in Chinese capital markets. Landmarks in 2016 included the first green covered bond and Asia’s first mandatory exchangeable security, which was also the biggest equity-linked transaction globally since 2010. Meanwhile, the surge in cross-border M&A provided plenty of opportunity for lenders to fund acquisitions. Mainland banks are no longer confining themselves to their natural hunting ground of Greater China. With plans to expand operations into the rest of Asia, Europe and the United States, 2017 promises to be just as exciting. For more on these awards, visit globalcapital.com/asia

The go-ahead given to JPMorgan and Citi in the Chinese bond markets this quarter look like progress, but need closer examination

The growth of renminbi trade has stalled, but it has forced a turning point in how corporates use the Chinese currency

It is a strange world when the most outward-looking financial institution is based in Beijing. Welcome to Asian Infrastructure Investment Bank, led by Jin Liqun. But can the rest of the world really accept the idea that this is an apolitical organization formed only for regional infrastructure?

Huarong Rongde Hong Kong Investment Management Co is in the loan market for $100m, barely three weeks after another entity within the same group, China Huarong Asset Management, rolled out a HK$3bn ($386m) syndication.