The World Bank has issued bonds before the Yuan in China supports the international use of its currency, also known as the renminbi.
The World Bank said in a statement Monday it is raising 500 million yuan (76 million) by issuing bonds of two years, paying 0.95 percent interest semi-annually.
He said the money should be added to the normal pool of money, rather than to raise a particular purpose.
The bonds are issued in Hong Kong by the international lender based in Washington, the Bank for Reconstruction and development arm, the China Daily.
While investors are mainly from Hong Kong, financial institutions, treasury and wealthy individuals, the World Bank said its global reputation will also help international investors do not invest in renminbi forward.
World Bank bonds as those of other institutions like the Asian Development Bank, and companies like Caterpillar and McDonald's, which has stood the yuan last year, when they try to exploit the growing investor demand for financial products in the Chinese currency.
Beijing has tried to promote Hong Kong as a platform for international banks in the yuan. The former British colony has its own currency, the Hong Kong dollar and the bank, but often serves as a testing ground for China.
The Chinese authorities have been gradually loosening restrictions on the use and the yuan in Hong Kong. Hong Kong banks started to offer Renminbi services in 2004 and now offer the range of transactions of deposits, credit cards are always trade finance and foreign companies can pay the Chinese yuan's trading partners.
0 comments:
Post a Comment