The People’s Bank of China plans to issue a yuan-denominated bond in London, The Wall Street Journal reported, citing a statement from the UK Treasury. The exact timing remains unclear for the bond, apparently the fruit of talks in Beijing between Treasury chief George Osborne and China’s Vice Premier Ma Kai. Prime Minister David Cameron’s government is eager to make London the top destination outside of mainland China and Hong Kong for trading the yuan. Word of the bond and a possible linkup between London’s bourse and the Shanghai Stock Exchange come ahead of a state visit to the UK next month by China’s president, Xi Jinping.
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