China Construction Bank launches first international RMB-denominated money-market fund

State-owned China Construction Bank (0939.HKG, 601939.SHA) launched the first-ever international money-market fund priced in the Chinese yuan on Wednesday, allowing European investors to profit off a mixture of short-term mainland bonds that are currently hard to access abroad, The Wall Street Journal reported. The bank struck a deal with Germany’s Commerzbank AG (CRZBY.OTCMKTS) to launch the exchange-traded money-market fund in London, in what CCB said was the start of a major expansion in Europe. The EFT follows the opening of a high-yield bond fund to European investors by Bank of China (4601.HKG, 601988.SHA) and Citigroup (C.NYSE) in London last year.