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Article: CHINA'S RMB-BONDS PLAY A KEY ROLE IN RMB INTERNATIONALIZATION.
- Article from:
- AsiaPulse News
- Article date:
- September 15, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALIAN, Sept 15 Asia Pulse - The issuance of RMB-denominated bonds plays a pivotal role in internationalizing the RMB, said experts at the 2009 Summer Davos held from September 10-12.
China's Ministry of Finance said on last Tuesday that it planned to issue a 6 billion yuan (US$878.5 million) worth of RMB Treasury bonds in Hong Kong on September 28.
The announcement, jointly made by the Ministry of Finance and the government of the Hong Kong Special Administration Region, is aimed at lifting the international status of the yuan. It marks the first time the central government has issued RMB-denominated Treasury bonds outside of the Chinese mainland.
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