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The China daily reports that China is planning to allow foreign financial institution to issue the bonds Yuan-denominated in mainland, cited by a source in China Banking Regulatory Commission. The official in the bank said in quoted saying that to issue bonds “The country's financial regulators will soon work out a plan to guide foreign financial institutions” there is no timetable provided for the decisions in the authorities of China. The CBRC is thought to have an application by HSBC this April for issuing Yuan bonds, this was cited from a source who is close to the bank, as stated by China Daily. As stated in the newspaper HSBC intends to use the proceeds to buy shares in the Bank of Communication as the bank launched the IPO in Shanghai China.
14:59
Posted on Jun-17-2007
