Bank of Tokyo-Mitsubishi UFJ Ltd.'s China unit said Monday it plans to issue 1 billion yuan ($146.5 million) worth of bonds on China's interbank bond market Thursday, the first yuan-denominated bond sale in mainland China by a foreign commercial bank.China continues make progress on its long-term goals for the currency.
The issue marks an important step forward in China's efforts to gradually transform the tightly controlled yuan into a major global currency by boosting its use for international trade settlement and encouraging foreign firms to raise funds in the currency for their operations in the country.
Bain Eyes Fresh Backers for Chindata and More Asia Real Estate Headlines
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Bain Capital looks for new backers to expand regional data centre platform
Chindata, with that story leading Mingtiandi’s headline roundup today.
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