Bank of China launched an RMB Bond Trading Index simultaneously in Shanghai, Singapore and London as well as a yuan trading center in London on Tuesday, Reuters reported, citing bank chairman Tian Guoli. Chinese bonds are still restricted to programs that allow foreign institutional investors to invest large amounts at considerable cost and with hefty delays. Creating a bond index – establishing a benchmark that filters asset quality – is one step towards resolving the resulting issue of investor unfamiliarity with Chinese assets. Bank of China gave few details on the London trading center, but claimed it would be the bank’s second-largest offshore trading center after Hong Kong.