Latest People & Markets news
The week in renminbi: PBoC won’t fight trade war with currency moves, CBIRC ramps up support for the real economy, ex-central bank head calls for ‘low key’ RMBi
The People’s Bank of China says it will not weaken the RMB amid rising trade tensions with the US, the banking and insurance regulator wants more lending to small businesses, and the former boss of the Chinese central bank argues that RMB internationalization should keep a low profile.
China people & markets round-up: Surprise uptick in FX reserves, record month for SGX’s RMB futures, China sells more to Belt and Road
China’s foreign exchange reserves grow in July, renminbi derivatives in Singapore hit a new high as trade war escalates, official data shows a pick-up in exports from China to Belt and Road countries.
China policy round-up: Regulator vows more goodies for QFII, RQFII, Beijing hits back over trade, PBoC rep lashes out again at the finance ministry
The securities watchdog promises more relaxations for inbound investors, officials levy new tariffs on US goods as state media takes aim at critics at home, and a senior central bank official criticises the Ministry of Finance for not doing its job.
Hong Kong Exchanges and Clearing (HKEX) boasted record revenues in the first half of year, as MSCI inclusion helped push northbound equity investment to new heights.
The week in renminbi: PBoC props up RMB with old rule, regulator greenlights new CGB futures, FSDC sets the tone before leadership summer meeting
China’s central bank brings back reserve requirement for FX forwards to support the RMB, the securities watchdog welcomes the launch of two year government bond futures, and a top financial regulatory body says it wants more support for the real economy before China’s leaders meet in Beidaihe.
China people & markets round-up: RMB futures fly high in July, Bond Connect volume down, draught for investment quotas
Trading volume for RMB futures contracts are up in Hong Kong and Dubai, activity on Bond Connect slows down in July after a strong uptick in the previous month, and the FX watchdog shuts the door on new inbound and outbound investment quotas.
China policy round-up: MofCom eases foreign investors rules on A-shares holdings, China scrutinises foreign service providers, London Connect is on schedule for a 2018 launch
The Ministry of Commerce (MofCom) relaxes restrictions on foreign investors buying A-shares, the People's Bank of China requires more details on the business operations of foreign service provider in the Mainland, and Chinese premier Li Keqiang confirms London Connect will launch this year.
China’s State Administration of Foreign Exchange (Safe) picked a former assistant chairman from the China Securities Regulatory Commission (CSRC) as its new deputy head, among other senior hires. The central bank, meanwhile, also added two new deputy governors to its line-up.
China’s top policy bodies got behind a loosening of the policy stance to give China’s lagging economy a boost, as Trump’s trade war continues to push the renminbi lower and creating more uncertainty on China’s growth prospects.
The week in renminbi: FTSE Russell ready for CGB review, HK vows $10m for AIIB, Safe publishes BRI guide
Index provider FTSE Russell will consider the inclusion of Chinese government bonds in its benchmark later this year, Hong Kong puts aside $10m for the Asian Infrastructure Investment Bank, and China’s FX watchdog publishes a guide on capital account management in Belt and Road countries.
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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||20.18|
|2||Industrial and Commercial Bank of China (ICBC)||14.26|
|4||Agricultural Bank of China (ABC)||10.97|
|5||China CITIC Bank Corp||9.87|
Panda Bond Database
|Pricing Date||Issuer||Country||Size Rmb (m)|
|1||08-Aug-18||Veolia Environnement SA||France||1,000|
|2||19-Jul-18||Beijing Enterprises Water Group||China||3,000|
|3||19-Jul-18||Global Logistic Properties via Iowa China Offshore Holdings||Hong Kong||1,500|
|4||13-Jul-18||Global Logistic Properties via Iowa China Offshore Holdings||Hong Kong||2,000|
|5||13-Jul-18||Hang Lung Properties||Hong Kong||1,000|
Offshore RMB Bond Top Bookrunners
|Rank||Bookrunner||Share % by Volume|
|1||Standard Chartered Bank||33.47|
|4||Bank of Taiwan||4.07|
|4||Cathay United Bank||4.07|
Latest Offshore RMB Bonds
|Pricing Date||Issuer||Country||Size Rmb (m)|
|1||21-Jun-18||Shimao Property Holdings||China||1,200|
|2||19-Jun-18||Korea Development Bank (KDB)||South Korea||1,750|
|3||07-Jun-18||Export-Import Bank of Korea (Kexim)||South Korea||1,500|
|5||16-May-18||First Abu Dhabi Bank PJSC||United Arab Emirates||1,100|