EM ASIA CREDIT: Contemporary Amperex (CONAMP, A3/A-/NR) uses greenshoe
"*CATL EXERCISES GREENSHOE; PROCEEDS FOR HK DEAL RISE TO HK$41B" - BBG
As expected, bringing the total raised to $5.2bn after exercising the greenshoe option.
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CHINA PRESS: Targeted Measures To Stabilise Foreign Trade Necessary
Authorities should consider subsidising logistics costs for industries with export dependence exceeding 30%, such as tax deductions for overseas warehouse construction used for cross-border e-commerce, said Zhu Keli, founding dean at the National Research Institute of New Economy. The State Council executive meeting last Friday called for customised targeted measures to stabilise employment and foreign trade in different industries and enterprises.
CHINA PRESS: China Needs To Boost Funding Support For Consumption
Officials could offset tariff disruption and declining external demand by implementing between CNY700 billion to CNY1 trillion of fiscal funds to promote domestic consumption, possibly issuing more special treasuries as early as Q2, said Wang Qing, analyst at Golden Credit Rating. The CNY300 billion consumer goods trade-in scheme should be expanded to include more goods and services, and increased funding, in response to growing momentum in redirecting export-oriented production toward domestic markets beginning in Q2. (Source: Securities Times)
CHINA PRESS: Anhui To Surpass Guangdong As Auto Capital
Anhui province is on track to become the nation's largest car manufacturer this year, Yicai reports, after Q1 output reached 761,700 vehicles, exceeding previous top producer Guangdong by 100,000 units. Feng Lei, director at the Firestone Creative Industry Research Institute, said the change was due to the provinces strong growth in new energy vehicles, as well as changes in statistical methods which saw BYD’s output counted under Anhui and not Guangdong.
