Greater China

Industrial and Commercial Bank of China’s New York branch decided to scrap a 10 year portion of a dual-trancher on Monday, as mismatch on pricing led to investors shunning the tenor in favour of a five year.

Credit Suisse has hired Edwin Yeung from HSBC to set up a new US and European credit electronic trading desk in Hong Kong.

Chinese automotive component supplier Xin Point Holdings is looking to go public in Hong Kong, having filed for approval with the city's stock exchange.

China Universal Leasing, which had initially invited banks to a Rmb1bn ($150.5m) onshore loan, is considering boosting the size of the facility following a good response during syndication.

Keppel DC Reit Management has kicked open a rights issue worth up to S$279.5m ($201.4m), while Zhuguang Holdings Group Co has launched a HK$1.4bn ($180.4m) offering — both to fund acquisitions.

China Great Wall International Holdings III and Bank of Communications Financial Leasing Co are preparing to hit the road for their respective senior unsecured dollar offerings.

Huai’an Traffic Holding and Yuzhou Properties Company are set to become the newest names to test liquidity in the international bond market, kicking open their deals on Tuesday morning.

The US took a step forward as a renminbi hub in September, when Bank of China New York branch was appointed as the local clearing bank. GlobalRMB met with a representative of the Working Group on US RMB Trading and Clearing to discuss new and future developments.

Mark Schwartz, Goldman Sachs’ chairman for Asia Pacific and vice-chairman of the firm, has decided to leave at the end of the year, bringing an end to his 27-year-long tenure at the bank.

Société Générale Corporate & Investment Banking has named Stephen Swift as its new head of global finance for Asia Pacific, replacing Sadia Ricke who is moving to the UK.

Hong Kong's Cheung Kong Property Holdings is looking to take advantage of a recent rating upgrade to ready a bond offering.

The US Treasury Department has maintained the view that China is not a currency manipulator in its second report to the congress on the foreign exchange policies of its major trading partners.