PBoC putting dim sum on the menu in London

China's central bank, The People's Bank of China PBoC, is set to launch a maiden international bond offering on Tuesday that is highly symbolic on a number of levels.

Firstly, it will be denominated in renminbi highlighting China's determination to underscore the currency's growing importance on the world stage.

Secondly, the deal is being launched from London where it has been timed to coincide with Chinese President Xi Jinping's state visit to the UK this week, one decade after the last official visit by a Chinese leader.

The deal is likely to be large and short-dated, according to two syndicate bankers familiar...