Greater China

China Banking Regulatory Commission (CBRC) relaxes restrictions on foreign banks, China sees first net capital inflow in almost three years, and Goldman Sachs estimates $54bn of southbound flows to Hong Kong via Stock Connect by the end of 2017.

China got a big PR win when the IMF elevated the renminbi currency to its special drawing rights (SDR) basket, but the real market impact from that decision is yet to be felt.

Credit Suisse is cutting six equities jobs from its Hong Kong and Tokyo offices, according to sources familiar with the matter.

Taiwanese semiconductor company GlobalWafers Co has wrapped up a $350m dual tranche acquisition financing with a group of local lenders. The same banks have also provided $200m to refinance the debt of the target company SunEdison.

This week, the PBoC follows the US Federal Reserve’s rate hike by strengthening the dollar, Korea worries THAAD will imperil renminbi swap line, and China reveals plans to create seven new Free Trade Zones (FTZs).

China Zheshang Bank has mandated firms for its international debut bond, a dollar-denominated additional tier one.

Fosun International benefitted from a stable post-Fed market in Asia on Thursday, enjoying investors’ full attention to price a larger-than-expected $800m deal. The bond is now the largest print from a Chinese high yield industrial company since May 2013, according to Dealogic.

Bank of America Merrill Lynch’s head of southeast Asia FIG investment banking and a managing director in the Asia Pacific financial sponsors group have left.

Russia ramped up its renminbi efforts this week with Rusal pricing the first Panda bond from the country. The deal closed on the same day the Central Bank of Russia revealed plans to open a renminbi clearing house ahead of a sovereign bond.

China Evergrande Group opened a dual-tranche transaction on Friday, becoming the second dollar issuer from Asia ex-Japan to come to the market after the US interest rate rise this week.

Leading Chinese technology firms including Alibaba Group Holdings, its affiliate Ant Financial and Tencent have swept into the loan market and are said to be seeking a collective $13bn-$14bn. Given their acquisitive tendencies, their latest fundraisings have found strong support from relationship lenders, despite political risks surrounding some of the targets, writes Shruti Chaturvedi.

UBS has made a number of new hires across its Asia Pacific businesses, according to memos seen by GlobalCapital Asia this week.