Chinese stock issuance reaches $52.6bn in 2011

This makes China account for 42.4% of Asia Pacific ECM volume – the highest YTD percentage on record.

According to Dealogic, China Petroleum & Chemical Corp’s $3.5bn equity-linked transaction in February is the largest ECM deal in 2011.

Here’s more from Dealogic:

China ECM issuance has reached $52.6bn in 2011 so far, down slightly from the $53.7bn achieved in the same period last year. Despite a drop in the volume, China continues to lead the Asia Pacific
region in ECM volume with a market share of 42.4% - the highest YTD percentage on record and up three percentage points compared to 2010 YTD.

China Petroleum & Chemical Corp’s $3.5bn equity-linked transaction in February is still the largest ECM deal in 2011 so far, followed by Shanghai Pharmaceuticals Holding’s $2.0bn new listing in Hong Kong and China Pacific Insurance (Group)’s $1.8bn follow-on.

Offshore RMB Bond volume already surpasses full year level in 2010
Offshore RMB bond volume totals $6.2bn in 2011 YTD, the highest YTD level on record and
already surpasses the $5.4bn achieved in full year 2010. Hong Kong issuers dominate the Offshore
RMB market with a 37.7% market share, followed by China and Singapore with shares of 37.5% and 7.4% respectively.

China DCM volume has surged 36% year-on-year to $111.3bn in 2011 YTD and stands as the highest YTD level on record. Fueled by Agricultural Bank of China’s $7.7bn bond via China International Capital Corp – the world’s largest corporate bond in 2011 YTD.

China targeted M&A volume reaches highest YTD level since 2008
China targeted M&A volume has reached $84.3bn in this year so far – the highest YTD level since
2008 ($88.6bn) and up 13% from the $74.6bn announced in the same period last year. Deal activity
of 1,808 also stands as the most active YTD level on record - up 4% from the 1,733 deals announced in the same period last year.

Shanghai Tunnel Engineering’s $2.4bn bid for Shanghai Urban Construction (Group) Corp is the
largest deal in 2Q 2011 so far. This deal pushes the domestic M&A volume to $61.6bn, up 9% from
the $56.5bn worth of deals in 2010 YTD.

ECM fee drives core IB revenue to a new YTD record
China core IB revenue has climbed to $2.6bn so far this year - the highest YTD level on record,
eclipsing the $2bn earned by banks in the same period last year.

ECM continues to account for the majority of the fee pool (58.7%) and is up 20% year-on-year; while China DCM revenue has surged to $824m in 2011 YTD, up 32% from the level achieved in 2010 YTD.

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