Michael Kim: Godfather of Asian private equity

The chair of EQT Asia will replace Conni Jonsson, who will remain involved in the Swedish private equity firm as honorary chair and founder.

The US firm will invest in Japanese PE funds and direct co-investments.

James Garforth joins the asset manager as principal, Asia direct lending, from BGH Capital.

Shanghai has been handed more tools, including the acceleration of offshore loans and digital trade, to aid offshore financial services in a boost to the city as a global financial hub; there is also cooperation with Hong Kong.

The HK$20bn issuance, denominated in multiple currencies, is a global record for the largest digital bond.

Hong Kong's finance secretary Paul Chan said the deal will "attract more cross-boundary Rmb financing and trading activities to Hong Kong".