BEIJING, June 3 (Xinhua) – The Development Bank of China (CDB), one of the country’s political banks, on Thursday issued $ 2 billion in onshore bonds, its first issue of USD-denominated bonds since six years.
One-year bonds pay a coupon of 0.38%, according to a statement posted on the CDB website.
It has helped the CBD expand its foreign currency financing channels and offers domestic institutions diversified currency investment products, the bank said.
The bank said it will continuously enrich bond products and actively promote interconnection and high-quality development of the bond market.
As the Chinese currency renminbi, or yuan, continues to appreciate rapidly, the Chinese central bank has pledged to steer expectations to keep the yuan exchange rate virtually stable at a reasonable and balanced level, and urged companies and financial institutions to refrain from all currency speculation. .
On May 31, the People’s Bank of China announced that it would increase the reserve requirement ratio for foreign currency deposits by 2 percentage points from the current 5% to 7%, effective June 15.
The yuan’s central parity rate weakened 38 pips to 6.3811 against the US dollar on Thursday, according to the China Foreign Exchange Trade System.