On Tuesday, the People’s Bank (Central Bank) of China issued in London the first-ever offshore debt securities in yuans for the amount of 5 billion yuans, says the message, posted in the bank’s site, Prime reports.
“The People’s Bank of China issued first-ever offshore securities in yuans. This will further development of offshore market of the yuan and will stimulate cross-border trade and investments”, the bank states.
The nominal interest rate of securities, issued for 1 year, makes up 3.1%.
The agreement on issue of similar securities was achieved during the visit of the Chancellor of Exchequer George Osborne. The announcement of the Central Bank of China was made during the state visit of Xi Jinping in Great Britain.
