First renminbi-denominated bond well received in Africa

Updated 2017-04-20 13:30:52

Bank of China's Johannesburg branch completes issuance of the first renminbi-denominated bond in Africa, marking another milestone in yuan's internationalization.

The three-year bond received subscription of 2.13 times, which helped tighten the yield to 4.88 percent.

The 1.5 billion yuan raised will be used to bankroll the Belt and Road Initiative projects, according to a Monday report carried by Economic Daily.

The market response showed investors' faith in China's economy as well as interest in renminbi assets, the bank's executive said in a statement.

The move came as part of the country's decade-long efforts to deepen offshore renminbi pool by offering diversified investment products.

The Johannesburg branch is the first renminbi clearing bank set up in the continent.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 18 2018 07:08:58

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 18 2018 07:08:58

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 18 2018 07:08:58

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords