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China DCM News

  • Bond market liquidity starts drying up

    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.

    • 10:30 AM
  • Chinese LGFVs on the hunt for dollars

    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.

    • 05:15 AM
  • China Orient AM rolls out fixed/floating combo

    China Orient Asset Management Corp launched a multi-tranche fixed and floating rate dollar transaction on Wednesday morning.

    • 04:30 AM
  • Bank of Chongqing jumps on AT1 bandwagon

    Bank of Chongqing Co started bookbuilding for its Basel III compliant additional tier one dollar bond on Wednesday, adding to a sector that has seen plenty of action this year.

    • 03:30 AM
  • Macau’s Luso International eyes fundraise

    Luso International Banking, a subsidiary of Xiamen International Bank Co, will meet fixed income investors this week for a subordinated dollar bond.

    • 12 Dec 2017

more China DCM

Comment

  • Asian green bonds: more catching up needed

    Asia’s green financing market has made great strides since issuance started to pick up two years ago, with 2017 seeing more regulators and issuers giving the asset class a push. But for all its impressive feats, the region’s green market is yet to come of age.

    • 12 Dec 2017
  • Backtracking on reforms not an option for China

    Foreign ownership reform in the Chinese financial sector is not only a landmark in the country’s opening up, but also a strategic move to rebalance US-China trade. But recent guidelines curtailing banking sector liberalisation appear to be a case of one step forward, two steps back for China. Now more than ever, Beijing must not let its caution around financial risk take over and undo its strategy.

    • 28 Nov 2017
  • Bond oversupply a challenge, but also an opportunity

    The sheer amount of dollar bond issuance seen this month in Asia, and the expected supply heading into the year end, has taken a bit of a toll on the market, with a handful of deals pulled and many others suffering in secondary. But there is a silver lining. Issuers in the region are being forced to think hard, communicate better and push the boundaries — things which can only make the market stronger.

    • 28 Nov 2017

Policy News

  • Let investors short Chinese stocks, says Asifma

    Short selling is crucial to the development of China’s equity market, especially in attracting greater foreign participation, Lyndon Chao, head of equities and post trade at the Asia Securities Industry & Financial Markets Association (Asifma), told GlobalRMB.

    • 06 Dec 2017
  • HKEX, SZSE: IPO Connect not imminent

    Regulators in Hong Kong and mainland China are in no urgency to launch a primary equity link, also known as IPO Connect, senior executives at Hong Kong Exchanges and Clearing (HKEX) and the Shenzhen Stock Exchange (SZSE) have said.

    • 05 Dec 2017
  • Stock Connect ID: Market welcomes compromise

    Market participants in Hong Kong have welcomed plans by regulators to introduce investor identification (ID) for northbound Stock Connect transactions, noting that the proposal strikes a balance between regulatory transparency and market efficiency.

    • 05 Dec 2017
  • The week in renminbi: China welcomes French underwriters in CIBM, PBoC’s Pan says risk prevention key to FX policy, FTSE Russell makes changes to China indices

    China wants to see more French banks underwriting bonds in its interbank bond market, the deputy governor of the People’s Bank of China says financial risk prevention is a key consideration for the country’s FX policy, and FTSE Russell reviews its China-related equity indices.

    • 04 Dec 2017
  • Banks rub hands on ‘crazy’ Bond Connect demand

    Demand from international investors to participate in Bond Connect is strong – with Ireland and Luxembourg-registered funds set to be the next group to join in once real-time delivery versus payment is introduced later this year, two bankers told the IFLR Asia Capital Markets Forum on Tuesday.

    • 29 Nov 2017

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Exclusive Data from GlobalRMB

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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) 28.62
2 CITIC Securities 21.06
3 China CITIC Bank Corp 9.72
4 China Merchants Bank Co 9.18
5 Industrial and Commercial Bank of China (ICBC) 7.56

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 22-Nov-17 Province of British Columbia Canada 1,000
2 15-Nov-17 Daimler Germany 4,000
3 13-Oct-17 Global Logistic Properties Singapore 1,000
4 19-Sep-17 Skyworth Digital Holdings China 2,000
5 14-Sep-17 Bank of China (Hong Kong) (BOCHK) China 9,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 31.63
2 BNP Paribas 16.57
3 HSBC 14.01
4 JP Morgan 13.39
5 Credit Agricole 11.30

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 15-Nov-17 Bank of China Paris Branch (BOC Paris) China 1,000
2 02-Nov-17 Hitachi Capital (UK) United Kingdom 500
3 27-Oct-17 Korea Development Bank (KDB) South Korea 1,400
4 19-Oct-17 Commonwealth Bank of Australia (CBA) Australia 1,500
5 11-Oct-17 BMW Finance NV The Netherlands 1,000