Greater China

Invitations are out for a $200m-equivalent borrowing by Yue Xiu Enterprises (Holdings), a company owned by the Guangzhou government.

Despite the progress in the usage of renminbi globally, multi-currency settlement provider CLS has yet to include the RMB on its platform. This, according to sources familiar with the review, is largely due to China's shortcoming in its payment infrastructure as well as broader concerns about China’s legal framework.

The South Korean government became the first sovereign credit to price a Panda bond on December 15. The country raised Rmb3bn ($467m) from the three year, which saw at least one offshore investor participating, sources close to the deal told GlobalCapital Asia’s sister publication, GlobalRMB.

New York Stock Exchange listed Trina Solar is the latest Chinese company to announce plans to go private, and has picked Industrial Bank as the financial adviser and arranger of the debt financing.

Linzhou Jian Zong Construction & Engineering Co is planning to float in Hong Kong via Guotai Junan Capital as sole sponsor, having filed a listing application with the city’s bourse.

China’s move to measure the renminbi against a trade weighted basket of currencies rather than just the US dollar is a sign from that central bank that it will be more tolerate of a weakening RMB, say FX traders.

Fubon Financial owned Dafu Media is raising an NT$59bn ($1.86bn) seven year loan, primarily to refinance existing debt and partly for operating costs.

Nomura's head of southeast Asia debt capital markets is understood to be leaving the firm at the end of this month.

YiChang HEC ChangJiang Pharmaceutical Co has opened books for a float of HK$1.67bn ($215m), kicking off the process with a renowned pharma investor among the cornerstones.

The People’s Bank of China (PBoC) and the Central Bank of United Arab Emirates have signed a memorandum of co-operation to set up renminbi clearing arrangement in UAE. At the same time the region is set to get its first RQFII quota.

China National Bluestar wrapped up an unexpected dollar bond last week, forcing some investors to remain on the sidelines due to tight pricing and lack of clarity.

The announcement of a new RMB exchange index has rekindled debate about whether the People's Bank of China (PBoC) needs to review the way it communicates with global markets. The answer is a resounding yes.