Greater China

It has been mooted for months but the Shenzhen-Hong Kong Stock Connect remains elusive with little detail on when the scheme will launch. But instead of being too overly fixated on timing, market participants said the focus should instead be on the scheme’s potential impact and the further liberalisation of China’s securities market.

Firm data on the Chinese economy has backed paying in CNY swaps and some steepening across the 1s/10s slope. Sources still say the curve is too flat. Bank of China will price a Green bond issue later today, writes Deirdre Yeung of Total Derivatives.

Wu Xiaoling, former vice-governor of China's central bank, has spoken out about the poor quality of financing available to Chinese businesses, saying they need more channels to help them develop.

Yihai International Holding has narrowed the price guidance on its up to HK$889.2m ($114.6m) Hong Kong IPO to the upper half of the marketing range, said a source close to the transaction.

Hon Hai-owned Foxconn Interconnect Technology, also known as FIT Hon Teng, is eyeing a listing in Hong Kong that could fetch up to $600m after the summer, said sources close to the deal.

Postal Savings Bank of China Co is seeking approval from the Hong Kong Stock Exchange to list, in a deal that could raise up to $8bn, according to sources familiar with the matter.

Bank of China has hit the market for its multi-currency green bond, with an offshore renminbi portion in only the second time a green dim sum bond has been sold.

China National Chemical Corp held a roadshow on Tuesday in Hong Kong for banks invited to join its $12.7bn loan in general syndication, as it looks to tie up funds for its acquisition of Swiss firm Syngenta.

Credit Suisse has promoted Ali Naqvi to head of global markets for Asia Pacific from co-head and put him in charge of both equities and fixed income, according to sources close to the move.

The Chinese securitization market is set for a big boost with Postal Savings Bank of China scheduled to launch the country’s first internationally rated residential mortgage-backed securitization (RMBS) on Thursday.

China is working hard to delivering on the promise of creating a multicurrency, global monetary system despite the difficulties in challenging the dollar’s status, according to an annual report by the think tank Official Monetary and Financial Institutions Forum (OMFIF) published on June 30.

Nomura has added a pair of bankers to its Asia ex-Japan equity capital markets team, according to sources familiar with the matter.