Northeast Asia

China’s Harbin Bank Co, which has been eyeing the offshore market for additional tier one capital for more than a year, has asked its shareholders for another year to complete the issuance. Its announcement comes as such bonds from the country’s lenders are taking a battering in the secondary market.

HSBC has named Mukhtar Hussain, chief executive of the bank in Malaysia, to the newly created position of head of Belt and Road Initiative (BRI) for Asia Pacific.

OneConnect, a subsidiary of Chinese conglomerate Ping An Group, has begun preparing for a Hong Kong listing this year, according to a source close to the transaction.

The US president says China will lower trade barriers and make a deal with Washington, the recently merged banking and insurance watchdog officially launches, and Vanguard makes five exchange-traded funds (ETFs) available in RMB and dollars in Hong Kong.

Beijing and Washington raised the stakes in a trade stand-off with new tariffs, the chief executive of Hong Kong’s stock exchange remains upbeat despite the launch of Chinese depository receipts (CDRs) and Bank of China’s cross-border RMB index ends 2017 on the up.

South Korea’s GS Caltex Corp sealed a Swiss franc denominated bond on Thursday, diversifying away from its usual Korean won and US dollar funding.

Wise Talent Technology Services Co, the operator of Chinese online recruitment platform Liepin.com, has set the ball rolling for an IPO in Hong Kong.

Peking University Founder Group Co, BOC Aviation and Yuexiu Property Co are meeting investors for their upcoming bond plans, while China National Chemical Corp’s Swiss subsidiary Syngenta is also gearing up for a mega deal.

China Resources Land bagged Rmb4bn ($635.7m) from a two tranche Panda bond on Wednesday, marking its fifth outing in the market. But the issuer had to change tack at the last minute after investor demand built up for the longer-dated note.

Investors showed healthy interest in a dual-tranche offering from Mizuho Financial Group on Wednesday, with the bank making only its second ever entry into the public euro bond market.

Logistics company GLP has struck two Panda bond deals in the past week, making it the only issuer to have raised funds from both the interbank and exchange markets so far this year.

Redsun Properties Group has filed a listing application with the Hong Kong Stock Exchange through three Chinese brokerages.