Latest People & Markets news
China policy round-up: PBoC vows clearer signals, CSRC puts green finance on agenda, FTZs get boost from central government
China’s central bank commits to better communications with market participants, the China Securities Regulatory Commission says it will do more to support green development in the capital markets, and the government announces upgrades for three free trade zones.
China people & markets round-up: RMB is public sector investors’ favourite, S&P set for onshore JV, Fidelity sounds Chinese default alarm
Public institutions want to up their stake in RMB assets, S&P says it wants a subsidiary in Mainland China, and Fidelity warns investors of rising default risk among corporate issuers in the onshore bond market.
The week in renminbi: PBoC beefs up CNH pool before index inclusion, LSE unveils London Stock Connect blueprint, trade war put on hold
The Chinese central bank ushers in measures to support offshore renminbi liquidity ahead of MSCI’s A-share inclusion, the London Stock Exchange (LSE) showcases a grand plan to link its stock market with Shanghai, and Beijing and Washington hold back on tariffs after Liu He’s visit to the US.
China people & markets round-up: Beijing buys more US Treasuries, Bangladesh Pandas on the horizon, foreign financial firms making inroads
China keeps growing its stockpile of US Treasury bonds, the government of Bangladesh may issue a Panda bond following the acquisition of the Dhaka Stock Exchange by two Chinese bourses, and foreign asset managers and insurance firms are expanding their onshore presence.
China policy round-up: Liu in the US, risk prevention high on leaders’ agenda, Shanghai celebrates liberalisation efforts
The Chinese vice premier is in the United States for trade talks, policymakers highlight concerns about systemic financial risk, and officials in Shanghai say foreign financial institutions are setting up operations in the city after China announced measures to further open up the onshore market.
MSCI has confirmed the 234 A-shares it is including in its benchmark Emerging Markets (EM) Index from June 1. Instead of grabbing all the A-shares they can get on the first day of inclusion, international investors are likely to take a tempered approach and build their exposure incrementally, analysts said.
The upcoming inclusion of onshore assets in global indices will drive massive inflows to the onshore capital markets, but will also have the side effect of downsizing the role of the offshore RMB (CNH) markets, according to Julien Martin, the head of FIC product development at the Hong Kong Exchanges and Clearing.
Scepticism over China's ability to become a global financial centre was on display at an industry conference in Hong Kong, despite recent efforts at rebooting liberalisation of the onshore market.
JP Morgan Chase appointed Mark Leung as chief executive of China on Monday, as it unveiled plans to expand its business in the country.
The week in renminbi: PBoC hails RMBi results, Foxconn A-share IPO is closer, foreign banks’ assets grew in Shanghai
The Chinese central bank outlines achievements in RMB internationalisation in 2018 so far, onshore subsidiary of Foxconn prepares A-share market debut, and international banks’ business in Shanghai grew in the first quarter.
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Latest news by market and league table performance
GlobalRMB Panda Bonds league table
|Rank||Arranger||Share % by Volume|
|1||China Merchants Securities Co||21.76|
|2||Agricultural Bank of China (ABC)||15.11|
|4||China CITIC Bank Corp||13.60|
|5||Industrial and Commercial Bank of China (ICBC)||10.58|
Panda Bond Database
|Pricing Date||Issuer||Country||Size Rmb (m)|
|2||26-Apr-18||Global Logistic Properties via Iowa China Offshore Holdings||Hong Kong||1,500|
|4||23-Apr-18||CAR Inc||Hong Kong||730|
|5||11-Apr-18||China Jinmao Holdings||China||3,000|
Offshore RMB Bond Top Bookrunners
|Rank||Bookrunner||Share % by Volume|
|1||Standard Chartered Bank||36.83|
|3||Bank of Taiwan||4.77|
|3||Cathay United Bank||4.77|
|5||Societe Generale Securities Services||4.13|
Latest Offshore RMB Bonds
|Pricing Date||Issuer||Country||Size Rmb (m)|
|2||16-May-18||First Abu Dhabi Bank PJSC||United Arab Emirates||1,100|
|3||04-May-18||Busan Bank||South Korea||500|
|4||27-Apr-18||Central American Bank for Economic Integration (CABEI)||Honduras||2,000|