Debt

The commodities group has returned to the market for the first time in three years and the PBOC has given approval for the funds to be repatriated offshore.

With China's DeepSeek already shaking up 2025's AI market, around $70bn was raised last year by Asia's tech firms.

BoCom becomes the first Chinese financial institution to issue a digitally native bond in Hong Kong with a $300m floating rate offering.

The Hong Kong property developer secured the deal with a consortium of international, Chinese and local banks; the company cited "challenging" market conditions in mainland China and Hong Kong as 2024 profits fell 25%.

The state-backed conglomerate's move should pave the way for future corporate issuances in 2025, which could make use of the HKMA’s grant scheme.

The record issuance in US dollars, Hong Kong dollars and CNH, includes several 30-year tranches.

The offshore tender of six-month bills will be launched on January 15 via the HKMA's Central Moneymarkets Unit and comes with the currency under pressure.

A clearer pathway from regulators is needed for transition finance to build scale.

Pam Hsieh will focus on the private credit firm’s relationships with financial intermediaries and wealth managers across Taiwan, Hong Kong and Singapore.