Greater China

Huishang Bank Corp has come a step closer to launching its H-share private placement in Hong Kong, after the China Securities Regulatory Commission (CSRC) approved the sale on Monday.

American International Group raised HK$5.83bn ($752.26m) from an overnight share sale in PICC Property and Casualty Co on Monday, as it seized what bankers say may be the last window for such a large block before the end of the year.

Inner Mongolia-based China Shengmu Organic Milk is testing appetite in the syndicated loan market for a $120m three year fundraising.

The Bank of East Asia (BEA) has entered into an agreement with Shenzhen Qianhai Financial Holdings to set up a fully licensed securities joint venture in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

IMF staff have issued a detailed report containing the analysis and recommendations made to the Fund's executive board ahead of its SDR decision. The report offers a useful analysis into the RMB's standing globally, including its importance as a reserve currency and the level of trading it commands in global foreign exchange markets.

The South Korean government is planning to offer a three year Panda bond of up to Rmb3bn ($467m) on December 15 (Tuesday), sources close to the deal have told GlobalRMB. If the deal launches as scheduled, it will mark the very first Panda bond from a sovereign credit.

Standard Chartered Hong Kong has priced its debut three year Panda bond at 3.50% at a total issuing size of Rmb1bn ($156m), two sources on the deal have told GlobalRMB. The deal is the first out of the bank’s total Rmb2bn Panda bond quota from the People’s Bank of China (PBoC).

The China Securities Regulatory Commission has given the Shanghai, Shenzhen and the futures bourses approval to introduce a circuit breaker mechanism in a bid to bring some long-term stability to its markets.

Bank of China’s shareholders have given the go ahead for plans to list subsidiary BoC Aviation on the Hong Kong Stock Exchange.

Eastspring Investments has appointed industry veteran Au King Lun as chief executive officer for Hong Kong, effective on December 7.

Bank of Zhengzhou started gauging investor appetite for its IPO of roughly $600m on December 7, as the last of the Chinese city commercial lenders prepares for a Hong Kong listing this year.

Industrial and Commercial Bank of China’s London branch has established a $10bn MTN programme, paving the way for the unit to issue its first international bond.