HSBC Group recently issued international Renminbi Bond (RMB) in London, first time outside of Chinese sovereign territories. The group issued the bond in London, the global financial hub, marking a milestone in its efforts to become a centre for offshore RMB trading alongside Hong Kong, said a press release. HSBC has been a major player in the Chinese bond market since 2007 and have topped the industry league tables in terms of issuance. It has proved its capacity to fund offshore RMB assets in London and contribute to the European as well as the global investor base. Stuart Gulliver, Group’s chief executive said: “We are proud to be able to issue this bond. It represents another step in London's development as a premier international trading centre for the Renminbi and is an early sign of the huge potential that this market represents.” HSBC is the first institution to list an RMB bond on the LSE to attract European investment.

News: Daily Sun/ Bangladesh/ 23-April-2012