Greater China

The volatility in renminbi markets has meant local corporates have had to adjust their expectations for the RMB, but Commonwealth Bank of Australia is seeing the currency growing in popularity.

Onfem Finance, a wholly owned subsidiary of Minmetals Land, has hit the loan market for a HK$3bn ($386.7m) four year financing.

AK Medical Holdings has applied to list in Hong Kong and is working with Goldman Sachs as the sole sponsor.

Qingdao Port International is en route to its debut offshore bond issuance and plans to seek approval from its shareholders at an annual general meeting on June 6.

The Brics bank is to finally make its capital markets debut later this month by issuing green bonds in RMB with the proceeds to be channelled into energy and infrastructure projects, sources have told Emerging Markets, a sister publication of GlobalCapital Asia.

Having left investment banking a while ago, I’m baffled by the increasingly arcane and complex rules that now plague the business — the Chinese Mainland being a particular case in point, writes Philippe Espinasse.

Hong Kong has a very important role to play in the Asian Infrastructure Investment Bank, with the financial centre expected to be accepted as a member as early as June 2016, said Jin Liqun, president of AIIB, at a forum held in Hong Kong on Thursday.

In this round-up, China reports the first gain in foreign exchange reserves for March, a treasury official said preparations for the Shenzhen Connect have been completed, an RMB globalisation index dropped further in February, and Deutsche Bank assisted a corporate client set up a cross-border RMB liquidity solution. Plus, a recap of our top stories this week.

China Railway Signal & Communication Corp (CRSC), the largest maker of rail transport control systems in the Mainland, is seeking the go ahead to sell onshore and offshore debt financing instruments.

Soho China has announced plans to redeem all of its outstanding 2022s, six months after buying back just part of the notes.

European and US banks have positioned themselves at the forefront of the Chinese M&A boom, but beware the ambitions of domestic players, warns David Rothnie

Hong Kong-based commodities trader Noble Group is back in the market for a $1bn loan to refinance outstanding debt. But the company is paying up dearly for the fundraising as it battles scepticism around its sector and the state of its financials. Shruti Chaturvedi reports.