Latest regulation/policy news
The big three international rating agencies have all registered with Chinese regulators so they can join the country’s onshore credit rating industry, but none have started operations yet. Rebecca Feng investigates the reasons behind the holdup.
China’s State Administration of Foreign Exchange expanded the total available quota for the Qualified Foreign Institutional Investor (QFII) scheme, one of the country’s longest-standing capital markets access programmes. The move came before the upcoming further inclusions of Chinese securities in global investment indices.
China policy round-up: US-China three-day trade talks show seriousness, premier Li meets Elon Musk, small enterprises to enjoy lower tax rates
In this round-up, US-China extended the previously planned two-day trade talk to a third day, Li Keqiang met Tesla’s Elon Musk, and the state council rolled out lower tax rates for small and low profit businesses.
The National Association of Financial Market Institutional Investors (Nafmii) is gearing up to unveil new standards for the Chinese rating industry this year.
The week in renminbi: PBoC cuts RRR for banks, Shanghai-London Stock Connect further delayed, premier Li pays big banks a visit
In this round-up, People’s Bank of China (PBoC) cut the reserve requirement ratio (RRR) by 100bp, Shanghai-London Stock Connect likely postponed to late January, and Li Keqiang encourages big commercial banks to support the private sector.
China market and policy round-up: US and China set date for trade talks, PBoC tries to boost SME lending, Nafmii gets a new head
In this round-up, US and China agreed to hold trade talks in Beijing early next week, the central bank loosened the definition of small and medium enterprises (SMEs), and National Association of Financial Market Institutional Investors (Nafmii) appointed a new party chief.
In the first round-up of 2019, China’s economy slowed further in December, renminbi-denominated central bank reserves fell in the third quarter of last year, and the US and China exchanged some positive signals on trade.
The decision to further postpone the ETF Connect between China and Hong Kong offers an opportunity to improve the mutual recognition of funds (MRF) scheme. In a recent report, Ernst & Young and the Hong Kong Investment Funds Association offered the authorities some suggestions.
China policy round-up: Xi’s speech disappoints, PBoC back to open market operations, China lowers holdings of US Treasuries
In this round-up, Chinese president Xi Jinping’s speech at the celebration of China’s reform and opening up offered no concrete promises, the People’s Bank of China reopened the seven-day reverse repo after 36 days of suspension, and China dropped its holding of US government bonds for the fifth consecutive month.
The week in renminbi: stricter ID rules for Stock Connect, China November FDI falls, Beijing confirms cuts to import tariff for US cars
Regulators agreed to impose a tighter identification regime for southbound trading of Stock Connect, foreign direct investment (FDI) into China dropped for the third month, and the Ministry of Finance (MoF) confirmed temporary import tariff cuts for automobiles from the US.
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
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)|
|1||10-Jan-19||Beijing Enterprises Water Group||China||2,000|
|2||18-Dec-18||Bank of China Group Investment||China||2,000|
|4||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)|
|1||03-Dec-18||Huzhou Communications Investment Group||China||500|
|2||22-Nov-18||Bank of China Tokyo Branch (BOC Tokyo)||China||800|
|4||13-Nov-18||Bank of China (Hong Kong) (BOCHK)||China||1,000|
|5||19-Sep-18||Agricultural Development Bank of China (ADBC)||China||1,200|