Greater China

China is exploring the possibilities for its small and medium enterprises (SMEs) to start borrowing in offshore renminbi as part of an ambitious five year plan to internationalise the sector.

HSBC’s Asia business accounted for a higher share of the bank’s earnings during the first half of the year, as the bank continues to develop its business in the region.

A $113m term loan to back Hong Kong-listed Aupu Group’s proposed take private has been allocated among seven banks, according to a source.

China is continuing its push for reforms to its FX market with the establishment of a self-regulating committee that authorities say will give market participants more sway over renminbi reference rates.

Postal Savings Bank of China’s mammoth $8bn-$10bn IPO in Hong Kong is a “once in a decade type deal” and investors already appear willing to pay a premium for a slice of the trade, say bankers.

Primary bond activity in Asia sprang back to life on Wednesday following a slow start to the week, with high yield issuance leading the way.

Hong Kong conglomerate The Wharf (Holdings) is planning to make its first appearance in the interbank Panda bond market having filed an application to the National Association of Financial Market Institutional Investors (Nafmii) last month.

This month, a recent announcement by the Hong Kong Stock Exchange (HKEX) in relation to one of its listing rules caught the attention of columnist Philippe Espinasse, who has put the regulation under the microscope.

Beijing Enterprises Water Group (BEWG) added to its portfolio of Panda bonds less than a week after its debut in the asset class, sealing a Rmb700m ($106m) return on Monday. Instead of trotting down a similar path as it did with its maiden appearance, the red chip firm has sold the first green Panda.

GlobalCapital is pleased to announce the preliminary shortlist of nominees for its Global Derivatives Awards 2016. Nominations are based upon market feedback and research conducted in recent months. Winners will be unveiled at a gala dinner in London in September.

Hong Kong Airlines returned to the international debt market on Monday for its third trade of the year, which is also the second tap of notes issued at the start of 2016.

Sunshine 100 China Holdings printed a $200m convertible bond last week that drew flak for the inherent weaknesses in its structure. But although it defied what many consider to be “proper” CB execution, look past the criticism and it’s clear that the equity-linked market is open for business — even when the trade is off-kilter.