Greater China

Russia’s renminbi ambitions got a big boost from the appointment of a clearing bank in September 2016 and the first Panda bond by a Russian corporate earlier this month. In a Q&A with GlobalRMB, the Central Bank of Russia says that all the technical preparations are complete for the Finance Ministry to issue its first RMB bond in Moscow — which would inaugurate a new market for so-called ‘Baikal’ bonds.

People’s Bank of China (PBoC) governor claims the end of quantitative easing is near, transaction volume in Chinese foreign exchange market was close to Rmb20tr ($2.9tr) in the first two months of 2017, and Hong Kong Stock Exchange (HKEX) plans to launch five-year Chinese treasury futures.

This week, the head of the state administration of foreign exchange (Safe) criticised Chinese companies’ overseas acquisition choices, 13 countries joined Asian Infrastructure Investment Bank (AIIB) and ICBC Moscow started offering RMB clearing services.

Emperor International Holdings, Xinjiang Guanghui Industry Investment (Group) Co and Zhuhai Huafa Group Co sealed new dollar deals on Thursday, going into their respective transactions with books fully covered.

In its latest consultation on A-shares, MSCI has overhauled its plans with a proposal that would see Mainland stocks make up just 0.5% of its Emerging Market index. While the new scheme increases the chance of A-share inclusion, it could be too little and too late for investors.

You know who won, now find out why. GlobalCapital Asia and Asiamoney present the extended results of our 2016 China Deals and Investment Bank of the Year awards, recognising achievement both on and offshore.

Bank of America Merrill Lynch’s head of China M&A has left after more than three years at the bank, according to sources familiar with the matter.

China Evergrande Group is selling a seven non call four bond, just a week after raising $1.5bn, while state-owned Hesteel Group Co has picked firms to work on a Reg S transaction.

Kunming Dianchi Water Treatment Co opened the doors to its Hong Kong IPO on Friday, with the deal set to raise up to HK$1.6bn ($205.3m).

In its first Panda bond issuance last week, Rusal hit double its target price. With Rmb9bn of issuance limit left on its programme, Oleg Mukhamedshin, deputy CEO of Rusal, told GlobalRMB that the Russian corporate will take its time before returning.

China Zheshang Bank sealed a massive $2.175bn from its debut international additional tier one on Wednesday, deciding to hit its regulatory limit with one deal rather than multiple outings.

Hong Kong-listed Fosun International is back in the syndicated loan market for $650m equivalent to refinance a $800m deal raised two years ago.