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GC Asia
Leveraged/non-investment grade
Tongcheng-Elong goes offshore for $200m
Chinese online travel agency Tongcheng-Elong Holdings is making its debut in the offshore loan market for $200m.
30 Jul 2021
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IPOs
Chinese stock rout derails IPO pipeline as regulators flex their muscles
Chinese stocks were in freefall this week after Beijing tightened rules for the for-profit education sector, sparking a fresh — and severe — bout of volatility in the equities market.
29 Jul 2021 -
Bonds
Chexim leads policy bank peers in onshore perp market
The Export-Import Bank of China (Chexim) has sold a renminbi-denominated perpetual bond, becoming the first of the country’s three policy lenders to tap the onshore debt market for additional tier one capital.
29 Jul 2021 -
Leveraged/non-investment grade
Chia Tai feeds debut $500m loan to market
Chia Tai Animal Husbandry Investment (Beijing) Co, an onshore China entity of Thailand’s Charoen Pokphand Group, is borrowing its first offshore loan directly.
28 Jul 2021
Bonds
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Chexim leads policy bank peers in onshore perp market
The Export-Import Bank of China (Chexim) has sold a renminbi-denominated perpetual bond, becoming the first of the country’s three policy lenders to tap the onshore debt market for additional tier one capital. Addison Gong reports.
29 Jul 2021 -
Everbright Greentech sells carbon neutrality Panda
China Everbright Greentech has priced a Rmb1bn ($154m) Panda bond, attaching a ‘carbon neutrality’ label to its return to the onshore market.
28 Jul 2021 -
Chexim debuts Rmb60bn perp
The Export-Import Bank of China has sold a renminbi-denominated perpetual bond, becoming the first among the country’s three policy lenders to tap the onshore debt market for additional tier one capital.
28 Jul 2021
Securitization
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Updated: SAIC-GMAC sets guidance for fourth ABS of the year
SAIC-GMAC Automotive Finance Co is continuing its run of deals in China’s auto loan ABS market. It is now on its fourth outing of the year, with plans to price the Rmb10bn ($1.55bn) transaction on Thursday.
30 Jun 2021 -
China’s first public Reits rise on debut
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BMW returns to China ABS with short revolver
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SAIC paints auto loan ABS green with $142m deal
Loans/Equity
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China Telecom wins approval for year's largest IPO
China Telecom Corp has got the nod from the Chinese securities regulator for a Shanghai listing which, if launched in the second half, could set the record for the largest IPO in the world this year.
23 Jul 2021 -
Suning.com shares rally on $1.4bn govt-led injection
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Syngenta hires three for Star IPO tutorial
Comment
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China’s bond market dynamics need a rethink
Foreign ownership of Chinese domestic bonds has hit an all-time high of over Rmb3.6tr ($562bn) — an impressive number but one that warrants a much closer look.
20 May 2021 -
Shenzhen stock move step in right direction for China
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China’s bank capital market comes of age
People & Markets
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The week in review: Chinese securities firms assigned annual ratings, PBoC tightens grip on listing of payment firms, Beijing cracks down on after-school tutoring sector
In this round-up, onshore securities houses receive their 2021 annual rating, the central bank requires pre-reporting from non-bank payment firms to go public, and the private education industry in China faces tough new regulations.
26 Jul 2021 -
The week in review: PBoC publishes digital renminbi white paper, seven regulators visit Didi for cybersecurity review, Beijing extends Tomorrow group units takeover timeline
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China policy and markets round-up: Q2 GDP growth moderates, national carbon market starts trading, Tencent gets nod for $3.5bn Sogou take-private
FX
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In calling China a 'currency manipulator,' the US plays its Trump card
The US finally labelled China a currency manipulator this week, a day after the renminbi weakened to below the psychological level of seven against the dollar. With China clearly indicating its willingness to open a new front in the trade war, the stage is set for an increase in rhetoric between the two countries.
07 Aug 2019 -
The week in renminbi: Allianz gets green light for Wfoe, foreign bond investors receive more tax exemptions, PBoC Shanghai supports private enterprises
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China market round-up: foreign reserves drop, October exports climb, Singapore Exchange plans to help Chinese enterprises
Derivatives
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Banks kick off RMB interest rate options trading
A group of 23 banks and 12 securities houses completed 154 renminbi interest rate option (IRO) transactions worth Rmb12.8bn ($1.81bn) on Monday. The new derivatives product is viewed as a solid step for China’s interest rate reform.
24 Mar 2020 -
Safe eases onshore FX derivs hedging for foreign investors
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SGX partners up for Belt and Road indices
Exclusive Data from GlobalCapital China
Investment
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Oaktree Capital registers wholly owned unit in Beijing
US-based Oaktree Capital Management has become the first foreign asset management firm to set up a wholly owned subsidiary in mainland China.
18 Feb 2020 -
China grants Value Partners onshore advisory licence
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Chinese bankers eye foreign investors for micro loan ABS push
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US-China tensions key to market outlook: Aberdeen
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ChinaBond collaborates with international index provider for the first time
Cash Management
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ADB faces hurdles to RMB funding
The Asian Development Bank (ADB) is struggling to find the long term RMB funding it needs in both onshore and offshore markets, treasurers at the development bank told GlobalRMB at their head office in Manila.
07 May 2018 -
Cips expands hours, but Swift sees more work to do
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China in the Year of the Dog: FTZs are dead. Long live FTZs
