Latest regulation/policy news

  • Inside China’s FX broker clampdown

    Chinese regulators are cracking down on foreign currency trading, going after brokers who have flouted restrictions by operating in a legal grey area. GlobalRMB investigates.

    • 23 Mar 2018
  • China in the Year of the Dog: A pot of oil at the end of the rainbow

    In the fourth and final part of a series of articles on China’s financial transformation, GlobalRMB looks at the commodity trading markets. From the launch of a new energy exchange to the increasing domestic trading of crude oil, gold and iron contracts, the wheels are already in motion for major change.

    • 14 Mar 2018
  • Banking and insurance regulatory merger hands PBoC more power

    China has brought its banking and insurance watchdogs under one roof, a move in line with its plans to consolidate government departments. The People’s Bank of China is set to gain an even broader mandate as a result of the change.

    • 13 Mar 2018
  • RMBi, risk prevention on Zhou’s handover list

    As he heads towards the exit, Zhou Xiaochuan, the governor of the People’s Bank of China, is not only handing over the baton of RMB internationalisation to his successor, but to market participants as well. He also insisted the central bank will not let risk prevention get in the way of further reform.

    • 13 Mar 2018
  • The week in renminbi: Regulator fleshes out foreign ownership reform, Xi’s indefinite rule confirmed, China downplays trade war with the US

    The China Securities Regulatory Commission (CSRC) lifts restrictions on foreign investors seeking a majority stake in local securities firms, lawmakers consent to move to scrap the two-term presidential limit, and the Chinese commerce minister says the country will not fight a trade war with the US.

    • 12 Mar 2018
  • China in the Year of the Dog: FTZs are dead. Long live FTZs

    In the third of a four-part series of articles on China’s financial transformation, cash management experts tell GlobalRMB the wheels are again in motion for foreign corporations in China to move past nearly three years of strict capital controls that have all but killed their intent of using the country as a regional treasury hub.

    • 09 Mar 2018
  • BRI bonds: new rules fall short on perks and clarity

    Regulators in China have finally published issuance guidelines for Belt and Road bonds. But the rules still do not clearly define which bonds qualify, and fail to address issuers’ concerns on capital repatriation and borrowing costs.

    • 08 Mar 2018
  • Special round-up: China’s ‘Two sessions’ kick off

    Chinese lawmakers are gathering in Beijing for their annual conference, with premier Li Keqiang already announcing measures to further open up financial markets. China’s parliament is expected to consolidate regulations overseeing foreign investments, and analysts are anticipating announcements on who will take the helm at the People’s Bank of China after Zhou Xiaochuan.

    • 05 Mar 2018
  • The week in renminbi: Chinese government unveils GDP target, MofCom slams Trump’s steel tariffs, bourses publish Belt and Road bond guidelines

    China sticks to a 6.5% growth target for 2018, Ministry of Commerce (MofCom) criticises a US proposal to impose tariffs on steel and aluminium imports, and the Shanghai and Shenzhen stock exchanges outline rules for Belt and Road bond issuers.

    • 05 Mar 2018
  • China breaks the shackles for foreign banks

    China's banking watchdog has scrapped approval requirements for foreign banks on a series of business lines, including for launching so-called ‘offshore wealth management services’. But banks will not benefit from the change unless China also relaxes its tight grip in other areas, such as control on capital flows, lawyers and analysts said this week.

    • 01 Mar 2018

Regulation/policy news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Industrial and Commercial Bank of China (ICBC) 20.05
2 China CITIC Bank Corp 17.18
2 Agricultural Bank of China (ABC) 17.18
2 CITIC Securities 17.18
5 China Merchants Securities Co 9.74

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 20-Mar-18 Republic of the Philippines Philippines 1,460
2 08-Mar-18 China Resources Land China 6,000
3 06-Mar-18 Air Liquide Finance France 2,200
4 09-Feb-18 Sino-Ocean Group Holdings Hong Kong 3,000
5 06-Feb-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 40.71
2 HSBC 14.48
3 DBS 5.36
3 Bank of China (BOC) 5.36
3 KGI Asia 5.36

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 16-Mar-18 First Abu Dhabi Bank PJSC United Arab Emirates 900
2 14-Mar-18 Greenland Holding Group China 1,500
3 08-Mar-18 Shinhan Bank South Korea 950
4 05-Mar-18 Country Garden Holdings China 950
5 02-Mar-18 Arab Petroleum Investments Corporation (Apicorp) Saudi Arabia 630