| The Chinese currency yuan, or renminbi, continues its ascent among international payment settlements, trade and currency investment, ratings agency Fitch said in their latest report. A rapidly expanding network of offshore yuan clearing centers has facilitated direct access to China's onshore financial markets, Fitch said.
"We expect the proliferation of these offshore clearing centers to drive greater issuance of dim sum bonds by both Chinese and non-Chinese governments, financial institutions and corporates in 2015," it said. Dim sum bonds are yuan-denominated bonds issued outside the Chinese mainland. They originated in Hong Kong and the term comes a style of essentially Cantonese cuisine that involves a variety of small delicacies...............................................Full Article: Source
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