Northeast Asia

In this round-up, trading of RMB-denominated crude oil futures kicks off in Shanghai, Bloomberg Barclays sets inclusion of onshore bonds in motion, and the governor of the People’s Bank of China reiterates the central bank’s commitment to RMB internationalisation and reform and opening up.

China Zheshang Bank has raised HK$3.6bn ($464.2m) from a placement of new H-shares, its first issue since listing in Hong Kong two years ago.

Personal computer maker Lenovo priced a $750m deal on Thursday as part of a liability management exercise, switching some investors out of an old bond that will mature next year. But like others in the market, the borrower had to pay a double-digit new issue premium to ensure success.

Shandong Iron & Steel Group Co and a Chinese government-owned entity from Xuzhou both took a cautious approach to their dollar bonds on Thursday in a market that has become increasingly volatile.

Chinese regulators are cracking down on foreign currency trading, going after brokers who have flouted restrictions by operating in a legal grey area. GlobalRMB investigates.

A jaw-dropping $20bn of investor orders poured in for Naspers’s overnight share sale in Hong Kong-listed Tencent Holdings, in a deal one banker summed up as "a huge success, and a landmark for all involved".

Chinese technology company Tsinghua Tongfang Co hit the market on Thursday in a desperate attempt to use its offshore regulatory approved fundraising quota before it expires at the end of March. While the issuer managed to raise $300m, the transaction was a rough one.

Baidu managed to raise $1.5bn from a dual-tranche bond on Thursday, but a choppy market backdrop meant the notes took a battering in the aftermarket.

Deutsche Bank has appointed Lok Yim as chief country officer for Hong Kong, succeeding Peter Lo who is retiring from the German bank after 15 years.

Beijing Jingneng Clean Energy has launched a $220m green loan into syndication, the first of its kind for the company.

China Renaissance has brought in ECM banker Dennis Leung as a managing director, investment banking, based in Hong Kong.

Mainland online credit card manager 51 Credit Card submitted a draft IPO prospectus to the Hong Kong Stock Exchange on Thursday.