Latest country analysis
The visit of president Xi Jinping to the UK this week has stirred much debate about the degree of kowtowing by British politicians and royals to the Chinese leader. But politics aside, the glut of new measures and transactions that accompanied the visit means the London RMB hub advanced in leaps and bounds.
Funding the plethora of infrastructure projects needed to hit the government's targets over the next five years is going to require a number of funding sources, from the government itself to multilateral institutions to bank lenders. But no-one doubts that the bond market is going to play a role. Asiamoney sat down with high-level representatives from all sides of the market to find out exactly how big that role can be.
Selecting and weighting stocks according to their management and governance quality has been an effective hedge against stock losses, especially in bear markets, writes William Cox of Management & Excellence, which created the methodology for the M&E BDO Asiamoney Hong Kong Sustainable Stars Index.
For the second part of Asiamoney's Indonesia project finance roundtable, Ray Tay of Moody's chaired a discussion on the potential for PPPs and the best way to attract the private sector.
Thailand's bond market still has a long way to grow to reach its potential, but in the diversity of credits and the availability of high yield borrowers, it has already achieved much that its peers in the ASEAN region are still dreaming about. Asiamoney sat down with a panel of high-level market participants to discuss Thailand's growing domestic debt market.
Thailand has a lot to offer foreign issuers hoping to find funding opportunities in the offshore markets, but tougher regulations for foreign names and an illiquid swap market can put some issuers off. Perhaps not for long. Asiamoney talks to a group of leading market participants about the opportunities for foreign and domestic issuers in the Thai baht bond market.
The stated aim of the China-backed Asian Infrastructure Investment Bank (AIIB), officially launched in June 2015, is to respond to a need for massive spending across Asia. But its creation has caused political controversy, with supporters arguing it shows up previous iniquities while opponents fear it will be a mere tool for China's projection of power. Peter McGill reports.
Indonesia is one of the largest emerging economies in the world. It should be unsurprising that the country has a huge infrastructure spending plan to meet over the next five years. Asiamoney sits down with a panel of senior market participants to discuss the best source of infrastructure funding over the coming years, and how that funding should be split between the government and the private sector.
Indonesia has put a firmer focus on the sukuk market over the last few years, and now plans to raise almost a quarter of its funding from sukuk investors. But although the government has done an admirable job flying the flag for Islamic bond issuance, the country's corporations have yet to follow suit in a meaningful way, reports Matthew Thomas.
The rapid growth in renminbi products and services in South Africa shows the country is well positioned to become Africa’s RMB hub. This is despite the growing competition from other countries on the continent, says Standard Bank.
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Panda Bonds Top Arrangers
|Rank||Arranger||Share % by Volume|
|2||China CITIC Bank Corp||12.38|
|3||Bank of China (BOC)||11.61|
|5||China Merchants Bank Co||10.06|
Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||China International Capital Corp Ltd||7,824.36||37||5.35%|
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|4||Standard Chartered Bank||12,677.71||92||4.74%|
|5||Bank of America Merrill Lynch||11,943.66||69||4.47%|
Asian polls & awards
Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the final five questions.
Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the first five questions.
You know who won, now find out why. GlobalCapital Asia and Asiamoney present the extended results of our 2016 China Deals and Investment Bank of the Year awards, recognising achievement both on and offshore.
GlobalCapital Asia and Asiamoney present the extended results for our 2016 Best Country Deals. Discover why these bond, equity and loan transactions delivered outstanding outcomes for issuers and investors.
The names have been announced, now find out why they stood out from the crowd. GlobalCapital Asia and Asiamoney present the extended results for our 2016 Australia Deals and Investment Bank of the Year awards, recognising achievement in equities, bonds, loans and investment banking.