Greater China

China YuHua Education Corp was expected to close its HK$1.9bn ($244.8m) IPO on Tuesday as scheduled — but price sensitivity among investors meant finding the right pricing level was posing a challenge as GlobalCapital Asia went to press.

The Hong Kong government launched a new 10 year dollar sukuk on Tuesday morning, seizing the opportunity to set a new benchmark after previously only selling five year sukuk.

China is understood to have tweaked its renminbi fixing mechanism by reducing the reference window of the baskets of currencies it tracks.

Citic and Xinyuan Real Estate are out with their respective bonds on a busy Tuesday in the dollar debt market, as China Jinmao Holdings Group also announces a tender plus new issue as part of its liability management.

Investors can now hedge their Chinese portfolio during European trading hours following the launch of CSI300 index futures contracts on Eurex, the continent’s largest derivatives exchange.

Two and a half years after the launch of the first pilot free trade zone in Shanghai, the authorities appear ready to inaugurate a third batch of FTZs. But recent moves to restrict capital outflows have ended up hurting foreign enterprises, dealing a blow to China’s efforts to open its capital account.

Chinese conglomerate Citic is pursuing a dual-tranche dollar transaction with five and 10 year tenors, mandating banks on Monday.

Singapore-based construction company HPC Holdings is looking to list its shares in Hong Kong and is seeking approval from the city’s exchange.

Law firm DLA Piper has hired a new partner to its finance and projects group in Hong Kong, according to a Monday press release.

Chinese borrower United Photovoltaics Group is back in the dollar debt market for more, opening a tap of its debut three year notes on Monday morning.

PBoC opened the week with a near-300bp weakening of the dollar fix, while Rusal received the green light for its upcoming Panda bond deal, and the Shanghai-London Stock Connect is now one step closer to becoming reality.

Chinese real estate developer Xinhu Zhongbao Co is looking for a window for its inaugural international outing, with a roadshow set to take place next week.