BEIJING, Oct 25 (IFR) - Asian credit markets were active on Wednesday as Chinese investment-grade names rallied ahead of China Ministry of Finance's planned US$2bn offering of sovereign US dollar bonds.

CICC, one of the bookrunners on the proposed offering, expected to be priced tomorrow, estimated that the pricing of the two tenors of five and 10 years, would be as low as 20bp-40bp over US Treasuries due to strong demand.

Traders noted that overall China IG names were 3bp tighter, particularly mainland asset-management companies, which were 5bp tighter.

The iTraxx Asia IG index was 1bp tighter at 73bp/74bp. China five-year CDS was 1bp tighter at 49bp/50bp.

Meanwhile, China stocks rose as the ruling Communist Party revealed on Wednesday its new leadership line-up without a clear successor to President Xi Jinping.

The Shanghai Composite Index closed up 0.3%.

China Jinmao's US dollar notes fell 0.4 points after the Property developer said on Tuesday that its chief financial officer was assisting Hong Kong's anti-graft body with an investigation.

Neither the developer nor any of its units were the subject of a probe, it said.

Chinese state-owned power producer Huaneng Group's newly priced US$500m 3.60% perpetual non-call 5 securities, were quoted at 100/100.25 in cash price.

Bank of Jinzhou's new AT1s were below water, quoted at 99.6/99.9 in cash price.

(Reporting by Ina Zhou; Editing by Dharsan Singh)