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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