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In June 1989 an unarmed man stood in the path of advancing tanks in Beijing, blocking members of an army that had just killed hundreds in Tiananmen Square. The confrontation [...]

The Republic of Philippines plans a comeback deal in the onshore bond market, the second batch of MSCI A-shares inclusions goes live today, and China’s bourses get a boost as they close in on buying 25% of Dhaka Stock Exchange. [ABSTRACT FROM AUTHOR]

The Chinese president marks the fifth anniversary of the Belt and Road Initiative (BRI), the US finance minister says China’s support for the renminbi does not count as currency manipulation, and the State Council clarifies its tax collection policy for Bond Connect investors. [ABSTRACT FROM AUTHOR]

Almost six years after China’s asset-backed securities market was rebooted, regulators are still struggling to put together legislation for securitization, casting a shadow over the market’s development, writes Noah Sin. [ABSTRACT FROM AUTHOR]

Agricultural Bank of China’s Hong Kong-based subsidiary got its first taste of the onshore bond market — and its policy-inspired volatility — as the Chinese central bank tightened bond underwriting rules and statements from the finance ministry led to a spike in supply of local government debt. [ABSTRACT FROM AUTHOR]

The People’s Bank of China brings back old policy to control RMB exchange rate, mainland and Hong Kong authorities set the date for launching investor ID for northbound Stock Connect transactions, and the Chinese securities watchdog allows foreign investors to take majority stakes in futures companies. [ABSTRACT FROM AUTHOR]

Chinese regulators flipped the switch on delivery-versus-payment (DVP) for Bond Connect on Friday morning, meeting a key demand that market participants have made for over a year. [ABSTRACT FROM AUTHOR]

Regulator removes ownership limit in Chinese banks for international lenders, China’s central bank vows support for businesses amid trade war escalation, Beijing and Washington fail to reach concrete agreements after two days of discussions. [ABSTRACT FROM AUTHOR]

Australia bars Huawei and ZTE from providing 5G services in the country, Malaysian leader pulls country out of Belt and Road projects, and the Shanghai Stock Exchange hosts the issuance of the first local government bond with a tenor of 20 years in China. [ABSTRACT FROM AUTHOR]

Mercedes-Benz Auto Finance has completed the tightest auto asset-backed securitization by any foreign originator in China in almost two years. The deal, which closed on Monday, was twice oversubscribed despite two underwriters dropping out of the syndicate at the eleventh hour. [ABSTRACT FROM AUTHOR]

Abagian lands bigger job at MS — Minsheng Bank loses two – HSBC Philippines CEO exits – Bhagat leaves StanChart’s capital markets unit – Dagong faces regulators’ wrath – DWS appoints Ng to two positions [ABSTRACT FROM AUTHOR]

One year after selling its first Panda bond, China Everbright Water came back on August 15 to sell two tranches with identical structures but marketed one of them as a green bond. Investors showed little passion for the tag, however, with the green tranche pricing slightly wider than the other. [ABSTRACT FROM AUTHOR]

German carmaker Daimler came back to the Panda bond market to raise Rmb4bn ($582m) last Thursday, marking its third outing in the asset class in 2018. The issuer shifted its focus to the shorter-dated tranche, which made up 75% of the offer. [ABSTRACT FROM AUTHOR]

Bank of China becomes the RMB clearing bank for a financial centre in Malaysia, a Chinese credit rating agency is in trouble with two regulators after breaching rules in the exchange and interbank bond markets, and the People’s Bank of China reportedly blocks RMB flowing out of free trade zones (FTZs). [ABSTRACT FROM AUTHOR]

After a two year absence in the Panda bond market, Veolia Environnement made its return last week to raise Rmb1bn ($145.6m). Instead of placing another three year bond, the French corporate issuer cut the tenor to just one year — a move that paid off for the borrower, said bankers. [ABSTRACT FROM AUTHOR]

Geely and BNP Paribas’s auto finance joint venture hit the Chinese securitization market with a bang on Tuesday, as domestic investors oversubscribed its single tranche sale by three times. The deal came a week before Mercedes is scheduled to launch a similarly structured transaction, which will be its first in China this year. [ABSTRACT FROM AUTHOR]

Geely and BNP Paribas’s auto finance joint venture hit the Chinese securitization market with a bang this week, as domestic investors oversubscribed for its single tranche sale by three times. The deal came a week before Mercedes is scheduled to launch a similarly structured transaction, its first in China this year. [ABSTRACT FROM AUTHOR]

Regulator allows foreign nationals in China to buy A-shares, Beijing and Washington walk back to the negotiation table, and the Chinese finance ministry guides local governments to borrow and spend on infrastructure in the third quarter. [ABSTRACT FROM AUTHOR]

The asset management arm of JP Morgan targets the private fund market in the mainland, China downsizes holdings of US Treasuries in June, and the Singapore Exchange (SGX) sets a new single-day trading record for USDCNH futures contracts. [ABSTRACT FROM AUTHOR]

Dagong Global Credit Rating, one of China’s largest credit rating agencies, has been banned from rating bonds in the interbank market for one year because it was providing consulting services to companies as it was rating them, the National Association of Financial Market Institutional Investors (Nafmii) announced today. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

The lending arm of Ford’s China operation took advantage of bullish sentiments in the onshore market on August 2, sealing a Rmb4.5bn ($662.3m) securitization. Bankers say Ford managed to price below Nissan, which offered a similar ABS recently, thanks to a major policy announcement that emerged last week. [ABSTRACT FROM AUTHOR]

Sri Lanka and Turkey are preparing to sell their first Panda bonds, enticed by falling funding costs in China's bond markets. But given they both have lower credit ratings than previous sovereign Panda issuers, they may face an uphill battle as regulators scrutinise their finances. [ABSTRACT FROM AUTHOR]

A Shanghai-based joint venture between carmaker Geely and BNP Paribas is to enter the Chinese auto loans securitization market for the first time next week. The company will test demand with a Rmb1.94bn ($284m) deal, selling just one tranche to investors in the interbank bond market. [ABSTRACT FROM AUTHOR]

The Canadian province of Quebec has mandated four banks, including two international firms, to underwrite its first bond in China, a finance official at the provincial government told GlobalRMB. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

Portugal will need to disclose more information about its finances to proceed with its planned Panda bond issuance in China, according to a document published on the regulator’s website but later pulled. [ABSTRACT FROM AUTHOR]

Bond index providers are racing to include Chinese bonds in their benchmarks. But before taking the leap, they should study a recent decision on A-share inclusion — and the sceptical response it got from investors. [ABSTRACT FROM AUTHOR]

Ford's Chinese auto lending subsidiary is selling a Rmb4bn ($587.1m) securitization in the renminbi market later this week, coming to the market a fortnight after Nissan. The originator is deploying the fixed-and-floating combo used by Nissan — a tactic which will help the company broaden its investor base, say bankers. [ABSTRACT FROM AUTHOR]

Foreign investors are holding more Chinese bonds than ever before, and they are ready to grab even more, according to a recent survey by S&P. Sentiment is likely to stay bullish as China’s monetary policy diverges from the US and the onshore market continues to grow, say analysts. [ABSTRACT FROM AUTHOR]

Almost half of the international investors surveyed by the Asian Corporate Governance Association (ACGA) disagree with MSCI’s decision to include A-shares in its emerging markets (EM) index. The survey shows that foreign investors continue to face obstacles when investing onshore. [ABSTRACT FROM AUTHOR]

Dongfeng Nissan Auto Finance enjoyed strong support from its traditional investor base — Chinese banks and onshore arms of Japanese banks — as it sold a Rmb4.5bn ($665.7m) securitization on July 19. The deal came as looser onshore liquidity gave banks more cash to buy ABS papers. [ABSTRACT FROM AUTHOR]

GLP rode the wave of bullish sentiment engulfing China’s bond market to pocket Rmb1.5bn ($223.7m) from a Panda issuance last week, returning to the interbank market. The issuer is already planning a follow-up. [ABSTRACT FROM AUTHOR]

A new dawn has broken for RMB business in Japan, as the country prepares to launch its first RMB clearing bank and a local currency swap line with China. For now bankers are focusing on new renminbi investment quotas, which could mobilise the vast pool of Japanese household assets to tap onshore Chinese securities. [ABSTRACT FROM AUTHOR]

Xi calls on other countries to fight protectionism, the Chinese government modifies fiscal policy to support the central bank’s easing of monetary policy, and the securities watchdog hints at the return of stock index futures. [ABSTRACT FROM AUTHOR]

The renminbi is the fifth most used payments currency in the world despite a fall in payments value in June, credit rating agencies in China are set to undergo a review by commercial banks, and the asset management arm of UBS starts a fund to tap both onshore and offshore Chinese stocks. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

JP Morgan wants to boost the number of Chinese stocks it covers to 200, having poached five research analysts to oversee the market recently, the bank told GlobalRMB. [ABSTRACT FROM AUTHOR]

Regulators water down wealth management product (WMP) rules, Donald Trump calls China a currency manipulator as his treasury secretary ramps up the pressure, and Hong Kong Exchanges and Clearing (HKEX) pushes USDCNH options trading volumes to a new high. [ABSTRACT FROM AUTHOR]

Xiaomi Corp fell as much as 10% after a surprise move to bar Mainland investors from buying shares through the Stock Connect, before quickly recovering. [ABSTRACT FROM AUTHOR]

Hang Lung Properties raised Rmb1bn ($149.8m) in its Panda bond sale on July 13. Most of the demand for the builder’s debut came from the offshore market, as mainland investors, guided by the government’s policy, kept their hands off real estate names. [ABSTRACT FROM AUTHOR]

Onshore DCM bankers are having a busy week in the Panda bond market. Two returning issuers have lined up onshore transactions this week, as they seek to profit from looser liquidity and falling yields in China. [ABSTRACT FROM AUTHOR]

The onshore arm of DBS bagged Rmb3bn ($448.3m) from the Chinese bond market on Tuesday, marking its first trade since 2015 that carries a tenor of more than one year. The transaction was also the second bond from a Singaporean lender in the mainland this year. [ABSTRACT FROM AUTHOR]