China allows int'l banks to issue RMB bonds
Take me away, mom Animals on the Road	“Water Margin” on eggs Cat the occupier Adorable animals pose like stars Cuddle up together, battling against blizzard Sunshine in the life

 

China has approved international commercial banks to issue RMB bonds for the first time.

The central bank said on Tuesday that HSBC and Bank of China (Hong Kong) have been approved to issue RMB bonds in the interbank bond market.

HSBC will issue bonds worth one billion yuan (160 million U.S. dollars) and Bank of China (Hong Kong) is allowed to issue 10 billion yuan of bonds, the People's Bank of China (PBOC) said.

In 2005 and 2013, China allowed overseas non-financial institutions such as the International Finance Corporation and the Asian Development Bank to issue RMB bonds.

Allowing international commercial banks to do so has diversified the RMB bond issuers and expanded their RMB financing channels, and the move could also encourage cross-border use of RMB, the PBOC said.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan