Hong Kong SAR

FIT Hon Teng is set to launch bookbuilding for its $500m Hong Kong IPO on Thursday, according to a source close to the deal.

Haitong Securities, the Chinese brokerage and investment banking group, has applied for permission from the China Securities Regulatory Commission (CSRC) to spin off and list Haitong UniTrust International Leasing on the Hong Kong Stock Exchange.

Zhongyuan Bank has begun fielding interest for its Hong Kong IPO, which is set to raise around $1bn, according to a banker close to the deal.

Tradeweb becomes Bond Connect’s first foreign trading platform provider, both northbound and southbound fund flows of the Mutual Recognition of Funds scheme pick up speed in May, and the State Administration of Foreign Exchange (Safe) plans favourable FX policy for Chinese companies investing in Belt and Road projects abroad.

UBS has appointed new leadership for its M&A advisory division for Asia Pacific, following the departure of Alison Harding-Jones.

Neo-Green Pharmaceutical Technology Development, a traditional Chinese medicine company, has announced plans to float in Hong Kong, having filed a draft prospectus with the regulator.

The governor of People’s Bank of China says Chinese banks must face international competition, the China Securities Regulatory Commission (CSRC) considers changes in Stock Connect daily trading quotas after MSCI’s A-share inclusion, and the Hong Kong Exchange plans to launch CNH and dollar gold futures on July 10.

Hong Kong property company Lai Sun Development Co is planning a return to the dollar debt market after a more than four year hiatus.

China's Ministry of Finance completed its first semi-annual auction of the year of offshore renminbi (CNH) bonds on Thursday, in a deal that surprised analysts with the strength of its demand.

The Asian M&A market is heating up, providing loans bankers with some welcome relief following a relatively quiet first half. Promising opportunities from the potential spin-off of Hutchison Global Communications (HGC) and the sale of Singapore’s Global Logistic Properties have set the stage for more activity. Shruti Chaturvedi reports.

There is nothing better than lounging by the sea with a refreshing cocktail in one hand and a good book in the other — a perfect antidote to all the stress that comes from working in the banking industry.

The upcoming Bond Connect will not only further open up China’s fixed income market, but also speed up the country’s financial market reform, Mark Austen, CEO of Asia Securities Industry & Financial Markets Association (Asifma), told GlobalRMB in a wide-ranging interview.