Greater China

Industrial and Commercial Bank of China’s Singapore branch has ventured out to the dollar bond market straight after the end of Labour Day holidays, launching a three year offering on Tuesday.

Mizuho Securities Asia has made senior appointments to its fixed income and equity capital markets businesses in a bid to strengthen its operations in the region.

The president of the Asian Infrastructure Investment Bank, Jin Liqun, tells Emerging Markets that he expects strong demand for its debt and reveals that he is looking to invest in emerging economies across the world as well as in Asia.

China Aircraft Leasing issued its first dollar bond on Thursday, sealing $300m from an offering that was notable for the stark difference in response in the primary and secondary markets.

Chinese technology group Huawei Investment & Holding left nothing to chance with its $2bn bond return. It paid up to compensate for the size of the deal and to soothe investor concerns over the poor secondary performances of other recent deals.

Allocations are out for a $430m five year loan for Baring Private Equity Asia’s acquisition of cosmetics packaging company HCP Global.

State Grid Corp of China is set to go on the road next week to gauge interest for a dual-currency bond, as it seeks to raise funds in dollars and euros.

Mitsubishi UFJ Financial Group (MUFG) has made two senior appointments to its securities business, naming Dong Nam to the newly created position of deputy CEO and Yasutaka Suehiro as head of Asia and CEO.

In this round-up, London overtakes Singapore as an RMB hub, foreign ownership of onshore RMB assets picks up, QDII products see further growth, and the US and China plan June economic meeting. Plus, a recap of our top stories this week.

Société Générale has named David Gore as head of shipping and offshore finance for Asia Pacific, replacing Gareth Williams, who is taking over as head of loan syndicate and sales for the region.

The number of offshore RMB hubs has risen rapidly in the last few years to hit 20 last year. But having more offshore hubs does not necessarily equates to more global usage of the currency, say market observers who are hoping China will adopt a new strategy.

Chinese mainland investors, who regulators were driven to dissuade from speculation after last year's spring fling in stock trading, have begun buying commodity futures in record size – and, with it, brought similar alarm and another regulatory pushback.