• ‘It’s a magical thing’: PBoC steps in to support bank CD

    China’s central bank offered investors a way of hedging the risk of a bank certificate of deposit this week, allowing Bank of Jinzhou to raise Rmb2bn ($289m) after suspicions it would be the next small bank to fail. Rebecca Feng reports.

    13 Jun 2019
  • Everbright sued as Chinese bank woes ripple

    Chinese securities houses and banks have suffered a rough two weeks that have hit their funding conditions. A lawsuit from China Merchants Bank (CMB) against Everbright Capital has brought even more worry to a market still recovering from the panic caused by Baoshang Bank’s takeover.

    06 Jun 2019
  • China bank bail-out is a one-off, say analysts, but the short-term debt market still shudders

    Chinese authorities took over Baoshang Bank this week, the first time the state has taken control of a financial institution in two decades. Despite the central bank promising to guarantee most deposits held by Baoshang, yields on similarly rated banks’ outstanding short-term debt jumped as issuance volumes tumbled — leading the central bank to take the ‘unusual’ move of injecting liquidity into the market for three consecutive days. Rebecca Feng reports.

    30 May 2019
  • Portugal opens up eurozone to China’s bond market

    Portugal attracted strong domestic interest on Thursday when it became the first issuer from the eurozone to enter the Panda bond market. Other borrowers from the eurozone are set to follow in its path, including Austria, as issuers look to broaden their investor base and develop the Panda market.

    30 May 2019

China DCM News

  • Trump tweet helps YY CB draw surge in risk appetite

    Chinese video-based social media platform YY pocketed $850m from a well-timed dual-tranche convertible bond. The deal — launched after repeated indications of interest in US-listed stocks — landed on a burst of risk appetite that followed US president Donald Trump’s tweet confirming his meeting with Chinese leader Xi Jinping at the G20 gathering in Japan next week. Jonathan Breen reports.

    • 12:00 PM
  • LGFV bond bonanza as supply forecast dims

    China’s recent measures to curb local government debt by restricting new offshore issuance from their financing vehicles led to one of the busiest weeks for the sector, as companies raced to beat the June 30 deadline when their regulatory quotas expire, writes Addison Gong.

    • 12:00 PM
  • China MoF completes first auction of the year

    China’s Ministry of Finance has sold its first offshore renminbi bond of 2019, raising Rmb5bn ($729m) on Thursday.

    • 11:45 AM
  • Founder Group uses up quota on fourth 2019 deal

    Peking University Founder Group Co raised $250m in a two year bond trade on Wednesday, using up the last of its offshore issuance quota, and shaking off investor concerns about its ongoing litigation.

    • 09:00 AM
  • YY eyes $850m from dual-tranche CB

    Nasdaq-listed Chinese social media platform YY hit the market with an $850m dual-tranche convertible bond on Wednesday.

    • 19 Jun 2019

more China DCM

Comment

  • China banking: long-term solutions needed

    Baoshang Bank’s takeover by the People’s Bank of China, and the continuing after-effects on the country’s banking sector, have forced regulators to adopt short-term measures to save smaller and weaker banks and securities houses.

    • 09:45 AM
  • UBS’s ‘pig-gate’ serves as warning for banks

    A UBS economist’s allegedly offensive comment about "Chinese pigs" has ensnared the Swiss bank in a series of unfortunate events, including being kicked off a planned dollar bond deal for China Railway Construction Corp. The backlash is overblown but serves as a warning for banks dealing with China.

    • 18 Jun 2019
  • Small Chinese bank stress: a blessing in disguise

    The surprise takeover of troubled Baoshang Bank, together with the resignation of Bank of Jinzhou’s auditor, is a wake-up call for a market that had enjoyed a rosy outlook.

    • 04 Jun 2019

Policy News

more policy news

People & Markets

more people and markets


Exclusive Data from GlobalRMB

RMB deals snapshotDatabase and customisable league tables of Panda Bonds
Database of Offshore RMB Bonds: search hundreds of deals
Regional deal volumes: compare annual dim sum issuance across the world
Offshore RMB deposits: track changes month-by-month
Cross-border trade settlement: volume graphs for Hong Kong and China
Clearing volumes for Hong Kong

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Bank of China (BOC) 23.98
2 China Merchants Securities Co 16.10
3 Industrial and Commercial Bank of China (ICBC) 13.41
4 Agricultural Bank of China (ABC) 9.76
5 China Securities 8.13

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 30-May-19 Portugal Portugal 2,000
2 17-May-19 Trafigura The Netherlands 540
3 16-May-19 CITIC Pacific China 1,000
4 15-May-19 Republic of the Philippines Philippines 2,500
5 29-Apr-19 Semiconductor Manufacturing International Corp (SMIC) China 1,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 25.05
2 Credit Agricole 7.04
2 HSBC 7.04
4 Bank of China (Hong Kong) (BOCHK) 6.90
4 Bank of Communications Hong Kong Branch (BOCOM HK) 6.90

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 22-May-19 Agricultural Development Bank of China (ADBC) China 3,000
2 16-Apr-19 ICBC Singapore Branch China 1,000
3 10-Apr-19 Bank of China Macau Branch (BOC Macau) China 4,500
4 15-Mar-19 Bank of Communications Hong Kong Branch (BOCOM HK) China 2,500
5 13-Mar-19 Daimler International Finance Germany 1,000