London will become the first overseas market for renminbi-denominated Chinese sovereign debt. George Osborne will be grinning ear to ear when Chinese President Xi Jinping leaves London on October 23, after a four-day state visit. China has chosen London as the first international financial hub to issue renminbi-denominated Chinese sovereign debt.
According to the Financial Times, Chinese President Xi Jinping, on his trip to London next week, will announce that Chinese Treasury bonds will be issued in London. Osborne, the British chancellor of the exchequer (treasury chief), has sought to turn London into the primary western hub for financial interactions within Chinese markets...............................................Full Article: Source
|