Greater China

China Development Bank Corp is making a swift return to the debt market with a floating rate transaction split between three and five year dollar portions and a 2020 tranche denominated in Hong Kong dollars.

Things kicked off with a weaker dollar fix by PBoC, while China’s banking authority got a new chairman last week, and the securities regulator said it will increase foreign ownership limits for China brokerage ventures.

China Orient Asset Management International Holdings, which tapped the offshore loan market in July last year, has returned for a $300m dual-tranche facility.

Shanghai-listed ENN Ecological Holdings has hit the loan market for a $200m two year facility, offering hefty pricing for a relatively short tenor.

In this round-up, Malaysia gets its first renminbi qualified institutional investor (RQFII) licence, RMB payments continue to drop, and China calls for more local governments to issue free trade zone bonds. Plus, a recap of our coverage this week.

The Asian block market came to life this month as shareholders jumped at the chance to offload some of their holdings in companies, taking advantage of a rally in the stock market. With a tight window remaining before firms head into blackout period ahead of results season, ECM bankers and investors are set for more deals this quarter. Jonathan Breen and John Loh report.

HSBC has made some high profile appointments to its commercial banking teams in Hong Kong and Mainland China, according to an announcement on Thursday.

Investors ate up China Jinmao Holdings Group’s new five year notes this week, allowing it to secure tight pricing for a four-times subscribed $500m deal.

China Reading, the e-book publisher backed by Tencent Holdings, has picked Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley to lead its Hong Kong IPO, according to a source close to the matter.

Hong Kong dove into the Islamic finance market this week, setting a new benchmark by becoming the first triple-A rated government to sell a 10 year sukuk. Bankers say that the hope is for corporates to follow suit, but there is a slew of challenges for the market to take off, writes Morgan Davis.

Xinhu Zhongbao Co became the latest dollar issuer to benefit from a conducive market backdrop this week, pricing a $700m bond — the largest high yield property transaction in recent times.

The upcoming launch of the second phase of China's cross-border interbank payment system (CIPS) is understood to be delaying the launch of clearing activities in the recently established New York RMB hub, GlobalRMB has learned.