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Thread: China, Britain strengthen cooperation to push yuan’s global use

  1. #1

    China, Britain strengthen cooperation to push yuan’s global use

    Credit to: Tax Avoidance News : China, Britain strengthen cooperation to push yuan’s 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..
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  2. #2
    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.

  3. #3
    Quote Originally Posted by shikamaru View Post
    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.
    All rights reserved. Without prejudice. No liability assumed. No value assured.

    "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
    "It is the glory of God to conceal a thing: but the honour of kings is to search out a matter." Proverbs 25:2
    Prove all things; hold fast that which is good. Thess. 5:21.

  4. #4
    Quote Originally Posted by allodial View Post
    You can 'buy' the currency with US dollars.
    Isn't that convenient.

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

  5. #5
    Quote Originally Posted by shikamaru View Post
    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.
    All rights reserved. Without prejudice. No liability assumed. No value assured.

    "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
    "It is the glory of God to conceal a thing: but the honour of kings is to search out a matter." Proverbs 25:2
    Prove all things; hold fast that which is good. Thess. 5:21.

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