久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

US EUROPE AFRICA ASIA 中文
Business / Markets

ICBC breaks new ground with renminbi bond in Seoul

By Jiang Xueqing (China Daily) Updated: 2014-10-15 08:27

ICBC breaks new ground with renminbi bond in Seoul

Pedestrians walk past a branch of ICBC (Industrial and Commercial Bank of China) in Chongqing municipality, Dec 14, 2013. [Photo/IC]

The Industrial and Commercial Bank of China Ltd sold yuan-denominated bonds in South Korea on Tuesday, the first such issue by a Chinese company and a move that experts said would pave the way for a diversified offshore renminbi bond market in that country.

ICBC (Asia), the Hong Kong arm of China's largest bank by assets, issued two-year bonds worth 180 million yuan ($29 million) at a coupon rate of 3.7 percent. ICBC breaks new ground with renminbi bond in Seoul

The ICBC Seoul Branch will be responsible for bond clearing, and KDB Daewoo Securities underwrote the issue.

An official with the South Korean finance ministry said the issue is a significant step. Seoul is considering inducements for foreign enterprises to sell yuan-denominated bonds in the country and these issues will keep rising over time, the official said.

Yuan-denominated corporate bonds started trading on the Korea Stock Exchange at the end of September.

Seoul-based Woori Bank Co Ltd sold 200 million yuan of two-year renminbi bonds in South Korea on Sept 10, the first such issue by a domestic company there.

Chen Fengying, a senior economist with the Institute of World Economic Studies at the China Institutes of Contemporary International Relations, said that ICBC's offering shows that the issuer base for yuan-denominated bonds in South Korea has expanded from domestic institutions to Chinese institutions.

Considering that the yuan is basically stable and increasingly internationalized and that returns on yuan-denominated bonds are relatively high, South Korea would like to see more such issues.

It will consolidate the foundation for the offshore renminbi market in South Korea, strengthen bilateral financial cooperation and push for a free-trade zone for the two countries, Chen said.

In recent years, many financial centers such as London, Frankfurt and Singapore have vied to become offshore renminbi centers. The use of the yuan as a settlement, transaction and even reserve currency has been surging.

By adding South Korea as an offshore renminbi bond market in Asia, China will significantly promote the internationalization of its currency, Chen said.

South Korea's yuan-denominated deposits increased by $380 million in September to $20.4 billion, according to the nation's central bank, accounting for 32 percent of all foreign-currency deposits in that month.

In July, President Xi Jinping and his South Korean counterpart Park Geun-hye agreed during a summit in Seoul to launch direct trading between the currencies of the two countries.

Under the Renminbi Qualified Foreign Institutional Investor program, China granted 80 billion yuan of quotas to South Korean financial institutions, allowing them to make direct investments in the Chinese domestic financial markets with yuan funds earned from the won-yuan direct trading market.

ICBC breaks new ground with renminbi bond in Seoul

ICBC breaks new ground with renminbi bond in Seoul

Yuan plan comes in for praise Europe helps boost yuan use internationally?

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 在线观看视频国产 | 亚洲一区二区三 | 日本高清在线中文字幕网 | 精品欧美一区二区三区四区 | 亚洲综合国产一区二区三区 | 一级片美女 | 在线国产视频 | 麻豆视频一区 | 中国一级毛片录像 | 看全色黄大色黄大片毛片 | 亚洲欧美在线播放 | 国产禁女女网站免费看 | 九九色视频 | 高清午夜毛片 | 一级待一黄aaa大片在线还看 | 亚洲免费视频在线观看 | dvd8090cnm欧美大片 | 亚洲一区二区三区视频 | 成人三级在线播放 | 亚洲手机国产精品 | 午夜视频一区二区三区 | 91网站网站网站在线 | 亚洲系列中文字幕一区二区 | aaa国产一级毛片 | 91久国产在线观看 | 国产成人精品久久二区二区 | 欧美特黄一级高清免费的香蕉 | 国产国产人免费视频成69堂 | 亚洲欧美一区二区久久香蕉 | 国产精品资源在线 | 偷柏自拍亚洲欧美综合在线图 | 欧美综合在线视频 | 国产乱色在线观看 | 97高清国语自产拍中国大陆 | www.久草.com| 日韩在线精品 | 国产成人免费在线视频 | 九九福利视频 | 欧美日本一道高清二区三区 | 国产午夜永久福利视频在线观看 | 免费看一级毛片欧美 |