Northeast Asia

China Development Bank Corp has turned its sights on adollar-euro transaction to start its 2017 debt issuance.

Issuers anxious to meet with investors before the Chinese New Year are kicking off the week with roadshows around Asia. Beijing Capital Group, Qinghai Provincial Investment Group, China Huarong Asset Management, and Indonesia’s Pan Brothers are all pursuing dollar bonds.

Zhongce Rubber Group is seeking liquidity in the international syndicated loan market for a $300m deal.

High yield real estate names Times Property Holdings and Yanlord Land Group are marketing their respective dollar-denominated bonds on Monday morning, looking to lock in early funding for the year.

Citi has appointed Paulus Mok, a 22-year veteran of the US bank, as its country officer for Taiwan.

Welcome to Trump-week, as the president-elect makes final preparations before being sworn into office this Friday. Trump dominated weekend headlines by declaring that the long-standing One China policy is now up for negotiation. In the renminbi markets, meanwhile, the week is off to a slow start as the currency stabilises, and Chinese authorities discuss the future role of the Shanghai free trade zone.

There is little doubt the RMB had a tough 12 months. But despite the headwinds, China has managed to push through landmark reforms to the capital account and more initiatives are in store for 2017. In the first part of this outlook, market participants discuss how RMB internationalisation (RMBi) will benefit from opening up of onshore hedging products and the far-reaching impact of recently-established New York hub.

In the second part of the GlobalRMB’s outlook on renminbi internationalisation in 2017, market participants discuss the far-reaching impact of the recently-established New York hub.

In this round-up, RMB-denominated cross-border trade settlement suffers a big setback in 2016, turnover in the Chinese interbank foreign exchange (FX) markets revolves almost entirely around dollar trades, and GF International launches a China A-shares fund on the London Stock Exchange. Plus a recap of our coverage.

The Republic of Korea became the first Asian sovereign out of the gate in 2017, sealing a $1bn 10 year bond on Thursday against a backdrop of political turmoil in the country.

Cigarette package printer Amvig Holdings, which launched a HK$1.6bn ($206m) equivalent dual currency refinancing in December, has allocated the borrowing after 12 banks joined lead ANZ to form the syndicate.

SEA Holdings, Guangzhou R&F Properties and a Changchun local government financing vehicle took advantage of the abundant liquidity in the bond market by locking in funds on Thursday.