China Briefing News

HSBC Holds First Offshore ‘Dim Sum’ Bond Offering in London

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Apr. 20 – UK-based international banking and financial services company HSBC raised RMB2 billion (US$317 million) through three-year bonds at 3 percent on Wednesday, marking the first “dim sum” bond issuance outside of the greater China region and yet another step towards the internationalization of the RMB. “The internationalization of the RMB is simply too […]

China Supports London’s Development as Offshore RMB Market

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Sept. 16 – The United Kingdom and Chinese governments recently agreed to jointly work on developing products and services denominated in the Chinese local currency RMB, in a bid to develop the City of London into another major offshore RMB market. In a statement issued after the fourth China-U.K. Economic and Financial Dialogue attended by […]

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