Greater China

Aluminum Corporation of China (Chalco) is out with a new five year on Thursday, having registered plans to sell a foreign currency bond with the National Development and Reform Commission last month.

The approval of the Shenzhen-Hong Kong Stock Connect came with a number of changes to the overall structure of the cross-border investment scheme. Markets are now debating the appeal and challenges of the new set-up.

The Shenzhen-Hong Kong Stock Connect could herald a new dawn in opening up China’s capital account, but its impact on primary markets may only be limited, equity capital market bankers said this week.

Five Chinese companies have registered their respective plans to sell offshore foreign currency bonds with the National Development and Reform Commission, according to a note on the regulator’s website.

Jilin Jiutai Rural Commercial Bank Corp has filed a Hong Kong IPO application via sole sponsor Guotai Junan International.

Citi has named Servaas Chorus as its new head of global capital management for Asia Pacific, according to an internal memo seen by GlobalCapital Asia.

Australia and New Zealand Bank has appointed Raymond Yeung as chief economist for Greater China, which will see him leading the bank’s research team providing macroeconomic analysis for the region.

The Shenzhen-Hong Kong Stock Connect Scheme was officially given the go ahead by China’s State Council on Tuesday, with the Hong Kong Securities and Futures Commission (SFC) making the breakthrough announcement that the entire Stock Connect scheme will now operate without aggregate trading quotas. Exchange traded funds (ETFs) and derivatives are due to come in future expansions.

Commodities trader Noble Group is in the spotlight again after Fitch and Moody's published divergent ratings on Monday. Fitch took a more benign view on Noble, but Moody's downgraded it to B2 from Ba3 with a negative outlook.

Richard Mo has taken up the newly created position of head of China business at Old Mutual Global Investors.

China Aircraft Leasing Group sealed a $300m five year deal on Monday off the back of a $1.2bn order book, making a swift yet successful comeback just four months after its last trade.

Doosan Bobcat has received regulatory approval for its IPO in South Korea, putting it on track to open books in September.