Hong Kong SAR

RMB transactions may be shifting onshore but efforts still need to be made to improve the liquidity of offshore renminbi to aid the internationalisation of the currency, according to a report released by the Hong Kong Stock Exchange last week.

Four corporates from Greater China announced their respective plans to sell bonds on Monday, setting the stage for a potentially busy week of primary issuance in Asia.

The People’s Bank of China (PBoC) went into reverse gear on Monday, weakening the dollar fix by 0.9%, China’s foreign currency reserves cling on to the $3tr level, and Shenzhen Connect sees slow but steady foreign interest.

China’s Jilin Jiutai Rural Commercial Bank has bagged HK$3.0bn ($386.9m) after pricing its IPO near the bottom of guidance.

The year started with plenty of excitement, as the RMB gained ground against the dollar in onshore and offshore markets, activity surged in RMB futures in Hong Kong, and the third batch of free trade zones (FTZ) opened for business. Plus, a recap of our coverage.

I think the French got it right when they recently decided that employees should be able to ignore work emails after hours.

Goldman Sachs’ ECM team in Hong Kong has shrunk, with the departure of the co-head of ECM syndicate for Asia Pacific ex-Japan.

China’s WuXi BioLogics is looking south of the border to Hong Kong to go public, preparing an IPO that could raise $300m, according to a banker close to the deal.

ANZ has hired a former DCM syndicate banker from Citi for its Asia bonds desk.

Rabobank’s capital markets operation in Hong Kong has undergone senior staff changes with the departure of a veteran loans banker and the appointment of a new capital markets head.

Hong Kong Exchanges and Clearing (HKEX) plans to introduce options on the Chinese renminbi currency, as well as a US dollar/offshore renminbi contract, having gained approval from the Securities and Futures Commission of Hong Kong.

Guangzhou Rural Commercial Bank Co is seeking regulatory approval for a $2bn IPO, having filed a draft prospectus with the Hong Kong Stock Exchange (HKEX) on Wednesday.