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View Full Version : China, Britain strengthen cooperation to push yuan’s global use



edward222
10-23-15, 10:26 AM
Credit to: Tax Avoidance News (http://www.offshorenewsflash.com/) : China, Britain strengthen cooperation to push yuan’s global use (http://www.offshorenewsflash.com/2015/10/23/china-britain-strengthen-cooperation-to-push-yuans-global-use/)


BEIJING – With steady steps, China has been pushing its currency to wider use on the global stage, and it has taken a big stride forward with President Xi Jinping’s state visit to Britain.

On Wednesday, China’s central bank announced it has issued 5 billion yuan-denominated notes in London, in the first offshore issuance of such debts outside China.

The interest rate of the one-year notes was set at 3.1 percent.

“The move is an important part of the yuan’s globalization strategy to increase its presence in the global bond market,” said Sang Baichuan, director of the Institute of International Business at the University of International Business and Economics.

Since July 2009, when China introduced a pilot scheme allowing for yuan settlements in cross-border trade, the currency’s overseas footprints have been expanding fast, especially for use in international trade.

ooohhh yuan..:rolleyes:

shikamaru
10-25-15, 02:23 PM
That could make for some nice investing for a portfolio.

Any information on how to purchase these bonds?

3% beats anything most retail banks are offering these days.

allodial
10-25-15, 10:22 PM
That could make for some nice investing for a portfolio.

Any information on how to purchase these bonds?

3% beats anything most retail banks are offering these days.

You can 'buy' the currency with US dollars.

shikamaru
10-31-15, 05:05 PM
You can 'buy' the currency with US dollars.

Isn't that convenient.

Well, when there is a will, there is a way....

allodial
11-01-15, 03:46 AM
Isn't that convenient.

Well, when there is a will, there is a way....

Airports often have currency exchanges. One can simply take some USD and say I want some ??? in exchange.