Hong Kong SAR

Discussions around the co-existence of two renminbi markets, one onshore and one offshore, are once again picking up pace, market participants told GlobalRMB. It will be up to China’s central bank to clean up the mess once and for all.

There is a stereotype of the staid investment banker, taking himself far too seriously, as obsessed with the numbers as he is with his perfectly-coiffed haircut. But the truth is that the industry attracts its fair share of oddballs, rogues and plain old geeks.

ZTE Corp’s travails have taken a toll on the Chinese telecommunications firm and its bank lenders, with the company seeking a waiver after a covenant breach on a $450m loan. Despite the Chinese government throwing its weight behind ZTE, smaller lenders in the syndicate are worried about the ramifications, writes Pan Yue.

Nomura Holdings has applied to the China Securities Regulatory Commission (CSRC) to establish a joint venture securities firm in the country.

Dyutish Chaudhuri has resigned from Credit Suisse’s equity capital markets syndicate team in Hong Kong, sources close to the matter said.

China's Ascletis Pharma has emerged as the first biotechnology firm to test the waters of Hong Kong’s new listing regime, after filing a draft prospectus on Monday.

Barclays has named veteran prime broker and ex-Credit Suisse executive Matt Pecot as head of equities for Asia Pacific.

Nomura appointed Ting Lu, a former research head at Huatai Securities, as its chief China economist on Tuesday.

Chinese telecommunications firm ZTE Corp, which has failed to comply with a covenant on a $450m syndicated loan due in July, has requested lenders to waive the breach, according to bankers close to the situation.

Chinese property developer Kaisa Group Holdings has tapped Edward Lau Fu Keung, a former Deutsche Bank employee, as its chief financial officer.

Property firm Greentown China Holdings has returned to the offshore debt market for a $630m term loan to refinance a similar deal sealed in 2016.

China’s stock market regulator has published draft rules for the issuance and listing of China Depositary Receipts (CDRs).