Bank of China's first yuan bond issue


The Bank of China has issued yuan-denominated bonds in Paris for the first time, raising two billion yuan ($A343 million) in the process, the Paris Europlace organisation says.

Tuesday's bond issue "completes the BoC Paris' financial activities plan", a statement said in reference to the Chinese central bank's Paris branch.

The issue was the latest step towards closer co-operation between China and France in the financial sector since their central banks established a clearing house for yuan transactions in June.

The creation of a yuan clearing house in Paris makes it easier for French-based firms to carry out commercial operations and make investments in China.

The sale was managed by BNP Paribas, Crdit Agricole-CIB and HSBC, and aimed at "supporting the commercial and financial development of eurozone companies that are active in China," a statement said.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Read more here: Business Spectator


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