Greater China

Hang Seng Bank has promoted from within to fill the position of head of structured finance, commercial real estate and corporate advisory, following Mimi Cheng’s recent departure.

Dongfeng Nissan Auto Finance is set to make its annual return to the ABS market with a Rmb3bn ($457m) VINZ 2016-1 Retail Auto Loan Securitization. But unlike its previous China auto ABS transactions, the company will be selling an additional fixed rate senior tranche when books open on Thursday.

China’s transition from a highly managed exchange rate regime to a more flexible one has come under much scrutiny, especially in light of the sharp drop in the renminbi. Even though the currency has started to stabilise in recent months, the Federal Reserve is still a wild card. Rev Hui reports.

China’s efforts to promote the renminbi have been focused on getting the currency out into the world. But since last year there has been a noticeable shift, with Beijing ratcheting up attempts to entice the world into its domestic markets. A new phase of renminbi internationalisation has begun, writes Carrie Hong.

There’s been plenty of hype about Panda bonds as borrowers and bankers scramble to take advantage of this new avenue into China. But for all the momentum the market has shown since reopening, it is plagued by a number of problems including a lacklustre response from onshore investors. Regulators need to act if the market is to reach its potential, writes Carrie Hong.

Index providers are once again discussing the potential inclusion of A-shares with global investors. But despite the best efforts by China’s regulators to ready the country’s financial system, market participants remain divided about whether recent steps go far enough, writes Paolo Danese.

Although the weak yuan trend is continuing China's latest move to slow capital outflows is keeping short-end CNY NDIRS calm. Meanwhile, China has issued its first London-listed dim sum bond and Sri Lanka is planning a Panda bond issue, writes Deirdre Yeung of Total Derivatives.

European issuers are tapping into select pools of liquidity in Asia, with Taiwan and Singapore proving they can deliver both size and cost effective funding. And as deal volume in Asia declines, European bonds are also benefiting from a higher take up from Asian central banks and sovereign wealth funds. Rashmi Kumar reports.

GlobalCapital was one of the judges for the China Securitization Forum’s annual awards in April. Twenty transactions were given plaudits in credit and corporate asset securitization with six singled out as outstanding. We present the winners and photos from the event.

For the second year running, our Offshore RMB Poll surveyed participants on some of the most important topics related to the renminbi’s globalisation. Around 1,600 responses were received — a 60% jump on last year — with those polled giving their views on subjects ranging from Panda bonds to currency depreciation. Lorraine Cushnie reports on the findings.

China welcomed its first pair of non-performing loan securitizations in more than eight years as Bank of China and China Merchants Bank tied up their long-awaited trades on Thursday.

The Shanghai Stock Exchange (SSE) published guidelines for future stock suspensions by mainland-listed companies, removing another roadblock to the inclusion of A-shares in the MSCI indices.