PBoC steps out with new London landmark

China marks Xi Jinping's London visit with a new benchmark in the offshore yuan market.
London and Beijing try marching to the same beat
London and Beijing try marching to the same beat

The Chinese government issued its first short-term debt in the international bond markets on Tuesday in a move designed to underline the renminbi's growing international importance and highlight strengthening Sino-British ties during President Xi Jinping’s visit to the UK.

The People’s Bank of China raised Rmb5 billion $788 million from the sale of a one-year bill after capturing a sizable order book of more than Rmb30 billion from central banks and sovereign wealth funds around the world.

The Chinese central bank initially went out with price guidance of 3.30% before tightening it to five basis points either side of 3.15%. Final pricing of the London listed...

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