CCB fore­casts SDR bonds to top $7b

China Daily (USA) - - BUSINESS -

China Con­struc­tion Bank Corp fore­casts bonds de­nom­i­nated in Spe­cial Draw­ing Rights will swell to 5 bil­lion SDR units ($7 bil­lion) in the na­tion in the next fewyears, after the world’s first sale of such debt in three decades. The World Bank is­sued 500 mil­lion SDR units of three­year notes in China’s in­ter­bank mar­ket this week, the first sale of debt in the International Mone­tary Fund’s al­ter­na­tive re­serve as­sets since the 1980s. They were priced to yield 0.49 per­cent, ac­cord­ing toXie Duo, sec­re­tary-gen­eral of Na­tional As­so­ci­a­tion of Fi­nan­cial Mar­ket In­sti­tu­tional In­vestors.

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