Greater China

UBS is planning to swap senior members of its China onshore and offshore teams as it looks to further strengthen its mainland business, according to an internal memo seen by GlobalCapital Asia.

Yanzhou Coal Mining (Yancoal) has announced plans to buy back a portion of its existing bonds following a pair of downgrades due to a weaker credit profile and declining thermal coal prices.

Asia’s debt market saw a busy Tuesday with a trio of issuers, SP PowerAssets, Stats ChipPac and TUS Holdings, venturing out for dollars.

Zhuhai Huafa Group (Zhuhai Huafa), a company closely involved with urban planning and development, is set to return to the dim sum bond market with a three year offering in the near future, GlobalRMB has learned.

Commentary around the one year anniversary of the Shanghai-Hong Kong Stock Connect seems pretty unanimous in suggesting the scheme has failed to achieve its goals. However, if one looks at past Chinese experiments in capital account liberalisation, the Stock Connect’s early performance should neither surprise nor disappoint.

Bank of Jinzhou Co commenced investor education on Tuesday for its $600m IPO in Hong Kong, having appointed five banks as joint global co-ordinators.

Chinese company Yirendai, an online consumer finance marketplace, is eyeing the New York Stock Exchange for a $100m IPO and has a filed a preliminary prospectus for the listing.

Société Générale has transferred Sylvie Leclercq from Europe to Hong Kong to head up the French lender’s export finance unit in the city.

UNV Digital Technologies has begun gauging investor appetite for its $150m IPO in Hong Kong, as the Bain Capital-backed firm gets ready to list.

Dali Foods Group Co priced its HK$8.87bn ($1.14bn) Hong Kong IPO close to the bottom of the range, as price sensitive investors called the shots.

Wenzhou Kangning Hospital priced its Hong Kong IPO at the top of guidance on November 13, leaving investors breathless as they flooded the HK$681m ($88m) deal with orders worth billions of dollars.

China's Ministry of Finance (MoF) is set to auction the second batch of CNH government bonds this year in Hong Kong on November 23. Although it seems the renminbi has secured its inclusion in the IMF’s Special Drawing Rights (SDR) basket, market participants doubt this will give an immediate boost to the CNH market.