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Xinhua Credit
China Macro-economy

China's policy bank raises 1.5 bln yuan through dim sum bonds

February 14, 2020


Abstract : Agricultural Development Bank of China said Thursday that it raised 1.5 billion yuan (about 214.3 million U.S. dollars) through five-year dim sum bonds earlier this week.

BEIJING, Feb. 13 (Xinhua) -- Agricultural Development Bank of China said Thursday that it raised 1.5 billion yuan (about 214.3 million U.S. dollars) through five-year dim sum bonds earlier this week.

The policy bank was the first issuer in the Year of the Rat in overseas renminbi bond market.

The proceeds will mainly be used to support the country's rural revitalization drive and the fight against the novel coronavirus outbreak, the bank said.

The issuance of the 1.5-billion-yuan bonds brought the lender's total bonds to 4.5 billion yuan.

Dim sum bonds are yuan-denominated bonds issued outside the Chinese mainland. They originated in Hong Kong and the term comes a style of essentially Cantonese cuisine that involves a variety of small delicacies.

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Keyword: China-bond-market

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