China issues sovereign bonds to global investors

September 8, 2009

From the Financial Times:

China to issue renminbi bonds to offshore investors

China will issue sovereign bonds denominated in its own currency to offshore investors for the first time this month – a crucial step towards making the renminbi a global currency.

The country’s finance ministry said it would issue Rmb6bn ($879m) of bonds in Hong Kong on September 28, in a move to “improve the international status” of the currency and to help mainland companies raise funds in the offshore bond market.

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