China trumpets Silk Road with multi-currency bond

Bank of China traverses the globe with a multi-currency bond in support of China's One Belt One Road initiative.
Merchant traversing the ancient Silk Road at the height of the Tang Dynasty
Merchant traversing the ancient Silk Road at the height of the Tang Dynasty

Bank of China was the main focus of global bond markets on Wednesday, executing a multi-currency bond that was dubbed the Silk Road bond in honour of the country's One Belt One Road initiative, which the bank is using the proceeds to fund.

In its roadshow presentation Bank of China said it aims to lend $20 billion to One Belt One Road-related projects this year and a total of $100 billion over the coming three years.

The initiative comprising the Silk Road Economic Belt and 21st Century Maritime Silk Road is the centrepiece of President Xi Jinping's foreign policy. Through it China hopes to project and enhance...

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