Juan global currency?
Tags: juan, currency
China is increasingly seeking to internationalize its currency. Beijing has promised foreign investors
can buy bonds denominated in Chinese currency of Renminbi.
Chinese Vice Premier Li Keqiang on a visit to Hong Kong, said that foreign investors in the near
future will be able to acquire shares and bonds denominated in Juan for the sum of 20 billion
renminbi.
The securities will be available in the open to foreign investors only in the last year, the interbank
bond market in Hong Kong. "The issue securities reflects the growing confidence of global
institutional and individual investors against the Chinese currency. This step will definitely speed up
the process of becoming Hong Kong's trade center bonds denominated in Juan "- said Deputy
Finance Minister Li Yong of China.
China's Ministry of Finance will issue the third time in Hong Kong securities. Previous issues took
place in September 2009 for the sum of 6 billion RMB and October last year for the amount of 8
billion RMB. 15 of 20 billion yuan will be allocated to institutional investors. The rest is a two-year
government bonds for individual investors that can buy from today.