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After quitting M&A and equity capital markets in Europe and the US last year, HSBC is striving to maintain global relevance — and London and New York still have a role to play
Deal raises questions about whether transaction was done at arm's length
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
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The China Securities Regulatory Commission is cutting red tape on sales of H-shares by Hong Kong and dual listed firms, making it easier for them to raise equity offshore. -
Standard Chartered’s Renminbi Globalisation Index fell to a 39-month low in May as the offshore renminbi (CNH) liquidity pool shrinks. But the bank said the index figures do not yet reflect China’s recent efforts to internationalise the renminbi, such the launch of Bond Connect.
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China’s State Administration of Foreign Exchange (Safe) says the country will not devalue the renminbi, Hong Kong’s renminbi deposits fall in May, and China welcomes Japan to participate in One Belt One Road (OBOR).
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Hong Kong Exchange (HKEX)’s chief executive Charles Li opened trading for the first RMB denominated gold futures contract on the exchange.
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China’s FX reserves gained $3bn in June, the UK’s renminbi deposits grew in the first quarter of 2017, and China and Russia agreed to establish a joint investment fund for Belt and Road infrastructure projects.
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The Chinese authorities have given their cross-border interbank payment system (CIPS) an even more central role in the global renminbi infrastructure, announcing that two domestic clearing houses have become direct participants of the platform to help settle Bond Connect trades.
