Greater China

Eastspring Investments, the Asian asset management arm of Prudential, has added four people to its equity team in Hong Kong as it looks to expand resources across a number of investment strategies.

Citic Envirotech has set up a subordinated securities issuance programme in multiple currencies, while Sun Hung Kai Properties (SHKP) is eyeing an offshore bond return.

Citi has hired former Credit Suisse banker, Jan Metzger, as its new Asia Pacific head of technology, media and telecom (TMT), according to an internal memo seen by GlobalCapital Asia.

The RMB passed through another goalpost on its path to inclusion in the International Monetary Fund’s Special Drawing Rights (SDR) facility on Friday, with the IMF staff saying that the currency meets all the criteria to join the basket. The fund's executive board will make the final call on the issue when it meets on November 30.

China Huarong Asset Management navigated a crowded Asian dollar bond market with a chunky $1.8bn deal on November 12. The trade was a replica of a highly successful transaction it executed at the start of the year.

Standard Chartered is understood to have dismantled its Hong Kong-based project finance team that focused on Greater China, making the division the latest to fall prey to the bank’s restructuring.

Chinese technology firm Tencent Holdings has opened its $1.25bn loan into limited syndication with tight pricing on offer.

China State Construction Engineering Corp (CSCEC) has made its offshore debut with a Reg S five year dollar issue. The firm braved a market that was crowded with four other dollar deals and still managed to come inside its fair value.

Flat Glass Group Co has announced terms for an up to HK1.21bn ($155.61m) listing in Hong Kong ahead of launching the trade on November 16.

Touch-based technology provider General Interface Solutions, an affiliate of Foxconn Technology Group, has signed its latest loan at an increased size of $300m after general syndication saw 15 banks pile in.

In this round-up, Moscow Exchange sees fall in both spot and swap trading, South Korea deposits drop for sixth consecutive month, and the Swiss franc is now directly convertible with the onshore RMB. Plus, a recap of GlobalRMB’s top stories this week.

MSCI has said it will include a total of 14 overseas-listed Chinese companies, including Alibaba Group and Baidu.com, to its Emerging Market and China indices. The breakthrough is expected to boost trading in China’s internet giants as well as aid the future inclusion of A-shares.