Northeast Asia

Commerzbank has hired Jason Ho as its Hong Kong-based head of Greater China primary bonds, to strengthen its debt underwriting franchise in Asia and in China.

UBS has reorganised the senior management team of its global banking business in Asia Pacific, less than three months after revamping its investment banking unit globally.

Peking University Founder Group Co failed to repay a Rmb2bn ($284m) onshore bond on Monday, as worries about its mounting debt continue to put pressure on its dollar bonds.

The China Banking and Insurance Regulatory Commission (CBIRC) published the first set of capital requirements for banks’ wealth management subsidiaries on Monday, with the rules set to go into effect on March 1 next year.

OneConnect Financial Technology, a unit of Chinese conglomerate Ping An Group, hit the road on Tuesday to meet investors for its New York Stock Exchange IPO.

In this round-up, the Purchasing Managers’ Index (PMI) showed a surprise increase in November, the People’s Bank of China (PBoC) and other state regulators jointly released comprehensive guidelines for rating firms and Industrial and Commercial Bank of China (ICBC) named a new chairman for its supervisory board.

Yuexiu Transport Infrastructure, a Chinese red-chip company listed in Hong Kong and incorporated in Bermuda, sold its first Panda bond in the interbank market last Friday, raising Rmb1bn ($142m).

Dollar bond defaulter China Singyes Solar Technologies Holdings has won the backing of a Chinese state-owned company, raising funds from its new parent to fund a debt restructuring plan.

SMBC Aviation Capital has returned to the offshore loan market for an unsecured $600m dual-tranche deal.

The price on GCL New Energy Holdings’ outstanding dollar bond has recovered from its lowest level since issuance, despite a double downgrade from the ratings agencies last week.

XD, a Chinese game developer, has kicked off the roadshow for its Hong Kong IPO, eyeing proceeds of HK$1bn ($128.4m).

Chinese local government financing vehicle (LGFV) Weifang Binhai Investment Development Co made its debut in the dollar market last Friday with a 363 day bond.