Northeast Asia

Chinese banks have enjoyed a stellar year for dollar additional tier one capital issuance, with Bank of Chongqing becoming the latest to join the party, achieving its target size and price on Wednesday.

China Orient Asset Management Corp pulled off an end of the year $2bn triple-tranche bond on Wednesday, but was forced to give investors a generous premium to get the deal done.

Foreign market participants in China are closely watching the implementation of new ownership rules for the financial sector, seeing the move as a test of president Xi Jinping's commitment to reform in his second term.

Shandong Hi-Speed Group Co (SDHS) and China Fortune Land Development Co are both taking bids for unrated three year dollar bonds on Thursday.

WuXi Biologics Holdings, which listed in Hong Kong in June in a hugely popular IPO, raised HK$5.07bn ($649m) from a block trade that was increased in size on the back of strong investor demand.

Macau’s Luso International Banking, a subsidiary of Xiamen International Bank Co, began marketing a subordinated dollar bond on Thursday morning.

LexinFintech, a Chinese online consumer lender, has shrunk the size of a mooted Nasdaq IPO to $132m from its original target of around $500m, after regulatory changes in China put the sector in a negative light.

Three Chinese issuers hit the market on Tuesday with dollar deals, but each saw a very different outcome. One company sealed a successful trade, another locked up a private placement style bond, while the third was forced to pull its transaction.

A renminbi-denominated oil futures contract could launch in 2018, a move that may reshape the global commodities market, according to industry experts.

Hisense (Hong Kong) Co, a consumer electronics maker and supplier, has wrapped up its maiden $300m international loan, finding demand from a 10-strong syndicate group.

Chinese local government financing vehicles (LGFV) Huzhou City Investment Development Group Co and Urumqi Gaoxin Investment and Development Group Co hit the market with dollar deals on Wednesday.

Xinjiang Goldwind Science & Technology, a Chinese wind turbine manufacturer, is making its debut in the offshore loan market with a $300m fundraising.