Northeast Asia

The Chinese vice premier is in the United States for trade talks, policymakers highlight concerns about systemic financial risk, and officials in Shanghai say foreign financial institutions are setting up operations in the city after China announced measures to further open up the onshore market.

China keeps growing its stockpile of US Treasury bonds, the government of Bangladesh may issue a Panda bond following the acquisition of the Dhaka Stock Exchange by two Chinese bourses, and foreign asset managers and insurance firms are expanding their onshore presence.

Two IPO applications in Hong Kong this week — one from a bitcoin hardware maker and the other a Chinese state-owned enterprise — highlighted the tussle for investor attention between old and new economy companies.

Even the best laid plans often go awry. Despite hours of preparation and accounting for every worst case scenario, one young banker has learned that sometimes accidents just happen.

Two Chinese transactions on Wednesday served as perfect examples of how duration can make a difference. Greenland Holding Group Co’s $500m sub-one year bond attracted a larger-than-expected order book, while China Overseas Grand Oceans Group (Cogo) had to pull a five year trade as a result of insufficient demand.

HSBC’s China subsidiary returned to the domestic bond market on Tuesday, issuing a Rmb3bn ($473.6m) three year bond, trading on the bank’s name recognition onshore.

Hong Kong’s market watchdog reprimanded and fined Citi on Thursday for its work as a sponsor on the 2009 IPO of China-based Real Gold Mining.

Chinese automobile financing retail transaction platform Yixin Group is tapping the loan market for a $150m borrowing, six months after listing through a HK$6.8bn ($867.2m) IPO in Hong Kong.

How worried are international investors and DCM bankers about the spate of corporate bond defaults in China’s onshore debt market? Addison Gong finds out.

First Abu Dhabi Bank hit the Taiwanese market for a Rmb1.1bn ($172.69m) bond on Wednesday, just two months after its last Formosa deal.

Chao Li has resigned from his position as head of Asia bond syndicate at Standard Chartered.

The China arm of HSBC visited the Chinese debt market this week and took home Rmb3bn ($472.5m). The issuer cashed in on its name recognition in Mainland China, and sealed the deal despite cautious sentiment among onshore investors.