London sees red as China executes offshore bond

The City of London cements its status as Europe's premier renminbi centre as China takes a new step to internationalise its currency.

London sees red as China executes offshore bond
Red skies at night: London's delight

The City of London cemented its status as Europe's leading renminbi centre on Thursday after China's Ministry of Finance MOF raised Rmb3 billion $458 million through a three-year bond deal.

The deal size may have been small by eurobond standards but the transaction was a meaningful one for both China and the UK. 

For China, it marks a new step in the internationalisation of its currency given the MOF has...

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