Latest People & Markets news
The week in renminbi: May activity disappoints, China tells the US to stop meddling in Hong Kong protest, PBoC addresses Baoshang again
In this round-up, the Mainland’s industrial production and other activity slowed in May, the Chinese foreign ministry urged the US to stop interfering with the country’s ‘internal affairs’ and the People’s Bank of China (PBoC) tried to calm the market again regarding Baoshang Bank’s bailout.
The Shanghai Stock Exchange (SSE) has introduced rules regarding daily trading limits, limit orders price range and treatments of ‘abnormal fluctuations’ for the Star Market, its new technology innovation board that is in its final preparation stage.
China market round-up: protestors take to Hong Kong streets, UBS apologises for economist’s language, May exports rebound as imports drop
In this round-up, US president Donald Trump warned of higher tariffs should his Chinese counterpart not meet him at G20, UBS’s chief economist employed questionable language when discussing the rise of Chinese consumer prices, and total exports edged up in May while exports to the US fell again.
China policy round-up: regulators moot quota-free QFII, NDRC tightens offshore bond issuance rules, Hong Kong proposes ‘insurance connect’
In this round-up, Pan Gongsheng, vice governor of the People’s Bank of China, suggests cancelling quota limits for the Qualified Foreign Institutional Investor (QFII) scheme, the National Development and Reform Commission (NDRC) heightened scrutiny on offshore bond issuers, and the Hong Kong Insurance Authority prepares the ‘Mainland-Hong Kong Insurance Connect’.
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.
China's regulators are speeding up the approval process of IPO candidates. After passing six potential issuers in the past two weeks, the Shanghai Stock Exchange (SSE) is set to wave through 13 more companies soon.
The People’s Bank of China (PBoC) will issue another round of offshore renminbi (CNH) bills through the Hong Kong Monetary Authority Central Moneymarkets Unit in the second half of June, timing the issuance for when the renminbi might become volatile due to the G20 meeting.
The Chinese state council introduced new measures governing the proceeds of local government special-purpose bonds on Monday. Some of the proceeds can now be counted as project capital — which bankers said would make it easier for infrastructure projects to secure loans.
The week in renminbi: PBoC governor meets Mnuchin, China issues US travel warning, World Bank and IMF lower China GDP expectations
In this round-up, US treasury secretary Steven Mnuchin called the talk with Chinese central bank governor Yi Gang ‘candid’ on Twitter, the Mainland warned domestic tourists and students against planning trips to the US, and both the World Bank and International Monetary Fund (IMF) lowered predictions for Chinese GDP growth thanks to trade tensions.
The much anticipated Shanghai tech board held its first listing committee meeting on Wednesday. Three companies are en route to be registered with China Securities Regulatory Commission (CSRC) and become the first batch of listees on the board.
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Latest news by market and league table performance
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|
Panda Bond Database
|Pricing Date||Issuer||Country||Size Rmb (m)|
|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|
|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|