Greater China

Two bankers have joined the loan syndication team of Agricultural Bank of China in Hong Kong in recent months, according to sources.

China National Chemical Corp (ChemChina) is meeting investors for a euro bond this week, as it looks to raise funds to pay down debt taken for the acquisition of Italy's Pirelli.

Shanghai Dazhong Public Utilities Group Co has launched bookbuilding for its Hong Kong IPO that could raise HK$2.0bn ($257.9m).

CMB Financial Leasing Co launched its debut international dollar bond on Monday with three and five year tranches, as ICBC London rolled out a three year floating rate note.

GlobalRMB has launched a new Monday round-up, featuring key market and regulatory developments from the weekend. This edition includes: mixed RMB FX performance, unexpected delay to the Shenzhen Connect, and Luxembourg looking to join the Belt and Road Initiative.

Hong Kong’s VPower Group International Holdings has raised HK$1.61bn ($206.3m) after pricing its IPO just off the bottom of guidance.

In this round-up, the Hong Kong Stock Exchange saw surges in trading of offshore RMB (CNH) futures, BMO became the first Canadian bank to become market maker for CAD-RMB direct trading, and the country of Djibouti is launching a Silk Road Bank. Plus a recap of GlobalRMB’s top stories this week.

Changsha Pilot Investment Holdings Co is readying its international debut, having mandated two firms to arrange roadshows next week.

China Energy Reserve and Chemicals Group and CEFC China Energy Company managed to drum up investor interest for their respective dollar bonds on Thursday despite a choppy market backdrop.

With the RMB hitting new lows against the dollar following the US elections, the move away from offshore RMB (CNH) deposits is likely to continue, if not accelerate. GlobalRMB is introducing a new historical chart tracking the level of CNH deposits across Hong Kong, Macau, Singapore, South Korea and the UK.

Chinese biopharmaceutical company BeiGene has net $200m from a follow-on public offering of American Depositary Shares (ADSs).

JP Morgan is paying a chunky $264m to the US authorities to settle charges that it won business from clients and government officials in Asia Pacific by giving jobs and internships to their relatives and friends.