Greater China

Chinese high yield property issuers have shown that they have investors in the palms of their hands, taking advantage of accounts’ hunger for yield to price deals at levels that would have been impossible a few months ago. But as more property companies face refinancing needs and investors spend their cash, borrowers will need to adapt to a tougher pricing environment.

ICBC (Asia) has begun offering 24-hour CNH prices for its clients, become the first Chinese bank to quote offshore renminbi all day.

Chinese state-owned Qinghai Provincial Investment Group Co sealed its inaugural dollar bond on a quiet day in Asia DCM, bagging $300m from an over 8x subscribed transaction. But pricing was somewhat constrained by the country's weak aluminium sector.

Japanese lenders have been largely missing from headlines of RMB-related initiatives, but some are starting to dip their toes into RMB infrastructure, starting with the cross-border interbank payment system (CIPS).

Xinyuan Real Estate is drumming up interest for its first international bond of the year, hiring seven firms to work on a Reg S transaction.

GlobalCapital Asia and Asiamoney are pleased to announce the results of our annual awards, recognising the best banks and transactions in China. Thanks to everyone who took time to pitch and our congratulations to the winners.

Despite the launch of Shenzhen Connect, MSCI’s decision on the inclusion of A-shares later this year still looms large on global investors’ views on whether to increase their exposure to onshore equities.

Hong Kong is about to be treated to its first real estate investment trust listing since 2013 as Chinese state-owned Tianfang Hospitality Reit sets its sights on an IPO, according to a source familiar with the matter.

Huawei Investment & Holding Co wrapped up Asia’s first G3 bond from the technology sector this year, pricing its notes through fair value. It plans to become a regular issuer in the capital markets to diversify its funding.

Ronshine China Holdings took advantage of the positive market sentiment on Tuesday to grab an additional $225m from a tap of its debut 2019s, reversing the rocky reception received for the original notes.

Chinese property developer Yanlord Land Group is poised to return to the loan syndications market with a $600m deal that will refinance a $385m borrowing raised in 2014.

Hong Kong firm Sun Hing Printing Holdings is seeking approval to go public in the city, submitting a draft prospectus to the bourse on Tuesday.