Beijing will work toward allowing foreign companies to issue RMB-denominated bonds this year to help multinational firms raise capital, the South China Morning Post reported. The People's Bank of China has already accepted applications to issue RMB bonds from both domestic and locally registered foreign companies, according to Vice Governor Wu Xiaoling. Beijing has been gradually opening the mainland's bond market to foreigners, as it could help ease mounting pressure from China's trade partners for a revaluation of the yuan to correct the nation's vast trade imbalance.