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2015 RMB Bond of Republic of Korea was issued successfully
On December 15, 2015, the 3-year “2015 RMB Bond of Republic of Korea” with issuance volume of RMB 3 billion at the rate of 3% was issued via the centralized bookbuilding system of interbank bond market in the Beijing Financial Asset Exchange (CFAE). This is the first RMB sovereign bond of a foreign government successfully issued in China, signifying the further opening up of the China’s interbank bond market.
Encouraging qualified overseas institutions to issue RMB-denominated bonds in China and expanding the scope of foreign institutions that can issue such bonds in China is a significant move to broaden the two-way opening of the financial industry, enrich product levels in the bond market and diversify the issuers. Previously, the international supranational institutions, foreign non-financial enterprises and foreign commercial banks have successively issued RMB-denominated bonds in the interbank bond market. NAFMII has actively pushed to expand the scope of foreign issuers and has accepted the registration by the ROK government for RMB-denominated bonds.