Latest People & Markets news
Citi China has made two internal promotions in its markets and securities services business division, according to a Friday press release.
China policy round-up: Trade talks deadline could be delayed, NDRC looks at bond defaults, Tianjin receives funding from BOC
In this round up, US president Donald Trump hinted at a potential delay of the March 1 deadline for a trade deal with China, the National Development and Reform Commission required its local units to zoom in on the potential for bond defaults and Bank of China (BOC) said it will lend Rmb300b to the Tianjin government.
China market round-up: FX reserves exceed expectations, MSCI adds Chinese securities, StanChart collaborates with Linklogis
In this round-up, foreign currency reserves beat market expectations in January, MSCI added 12 securities to its China Index and Standard Chartered signed an MoU with a Chinese supply chain financing provider.
Chinese regulators published a draft of new rules for corporate Panda bond issuers at the start of February. Bankers say the rules have done little to address one of the biggest headaches for potential issuers, but they do represent a step forward.
The People's Bank of China held the tender of its second offshore renminbi issuance in Hong Kong on February 13. Both the Rmb10bn three-month note and the Rmb10bn one-year note were priced significantly lower than the first auction in November.
The week in renminbi: Trade talks resume, China’s interbank system passes New Year test, foreign investment law set to pass
In this round-up, China and the US will talk in Beijing at the end of the week, China’s interbank payment and settlement system survived the Lunar New Year red packet frenzy and a draft of the foreign investment law will be submitted in early March.
China market round-up: Green light for RMB bond index inclusion, the PBoC plans Rmb20bn bills sale in Hong Kong, China sees falling industrial profits
In this round-up, Bloomberg Barclays confirmed the upcoming inclusion of Chinese bonds in its indices, the People’s Bank of China will auction CNH bills in mid-February, and industrial profits in China confirmed poor ending for the economy in 2018.
China policy round-up: China plans merger of investment programmes, US charges Huawei, JPM to offer Hong Kong funds onshore
In this round-up, the China Securities Regulatory Commission (CSRC) issued plans to merge two long-standing access schemes for foreign investors, the United States Justice Department unveiled charges against Huawei just as trade talks were set to begin, and JP Morgan (JPM) received approval to offer Hong Kong funds in China.
S&P Global Ratings, which this week became the first international rating agency permitted to rate Chinese domestic deals, plans to start its business gradually. The firm will initially concentrate on renminbi deals sold by its existing clients.
Bank of China’s Rmb40bn ($5.9bn) perpetual bond has opened up a possible path for other banks with similar funding needs, but smaller banks may still find it hard to attract investors, said analysts and bankers this week. Widening the scope of perpetual bonds so that insurance companies can purchase them will be key to solving the problem.
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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||14.44|
|2||Industrial and Commercial Bank of China (ICBC)||11.65|
|3||Bank of China (BOC)||10.33|
|5||Agricultural Bank of China (ABC)||7.17|
Panda Bond Database
|Pricing Date||Issuer||Country||Size Rmb (m)|
|2||10-Jan-19||Beijing Enterprises Water Group||China||2,000|
|3||18-Dec-18||Bank of China Group Investment||China||2,000|
|5||06-Dec-18||China Gas Holdings||China||1,300|
Offshore RMB Bond Top Bookrunners
|Rank||Bookrunner||Share % by Volume|
|1||Standard Chartered Bank||30.97|
|4||Bank of China (BOC)||3.68|
|5||Bank of Taiwan||3.30|
Latest Offshore RMB Bonds
|Pricing Date||Issuer||Country||Size Rmb (m)|
|2||03-Dec-18||Huzhou Communications Investment Group||China||500|
|3||22-Nov-18||Bank of China Tokyo Branch (BOC Tokyo)||China||800|
|5||13-Nov-18||Bank of China (Hong Kong) (BOCHK)||China||1,000|