ndrc

New Rules to Limit Chinese Corporates and LGFVs' Offshore Issuance

In a bid to contain systemic risk, China’s NDRC restricted the use of proceeds from newly raised debt. Companies without outstanding debt will be effectively barred from accessing the offshore market.

Fitch Ratings

Outlook 2018: beware the watchdog's bite

Now the ruling party’s Congress has passed, it’s down to China’s regulators to steer investment flows. They are doing so, firmly.

December 27, 2017

Carrot and stick: Beijing looks to close M&A loophole

Beijing will move beyond capital controls as it puts a firm focus on the quality of overseas deals. Structures used to beat previous rules will no longer apply.

November 06, 2017

China M&A clampdown kills Jardines' HK hotel sale

The trading house's scrapped sale of a hotel on Hong Kong's storied Lot No. 1 shows Beijing's efforts to curb M&A in its targeted sectors are kicking in.

September 27, 2017

NDRC signals drop off in offshore bond approvals

Chinese issuance may tail off as regulators indicate they will not approve any more offshore bonds once the National People's Congress gets under way in mid-October.

August 31, 2017

Politics, not rules, will direct China's dealmaking

Don't read too much into China's formal regulations on M&A. An imminent leadership shuffle is more likely to weigh on dealmaking, at least for now.

August 21, 2017

Southampton deal: Extra time for China soccer spree

Beijing may have thought it had called the final whistle on expensive football deals, but more sales are in the pipeline after a Chinese tycoon snapped up a top English club.

August 16, 2017

Chinese developers exploit short-term debt loophole

Loophole unlikely to last but illustrates cat-and-mouse game Beijing having to play as it tries to curb corporate leverage and deflate property bubbles.

August 02, 2017

Investors seek profit in Wanda sell-off

Banks may be curtailing their credit lines, but some bond investors view Wanda's recent rollercoaster ride as an opportunity to generate alpha.

July 19, 2017

Brexit: China will be more prudent about UK M&A

Chinese companies will wait and see following the UK's decision to exit the European Union in terms of investments and acquisitions in the country.

June 26, 2016