Britain Will Issue Renminbi Denominated Treasury Bonds

On Friday, British finance minister Osborn and Chinese Vice Premier Ma Kai announced that the United Kingdom would issue Renminbi denominated treasury bonds and become the first issue country in western countries. Osborn said, along with RMB Increasingly internationalized, the issuance of RMB bonds will be included in British foreign exchange reserves.

Ma Kai, vice premier of China, arrived in the UK in September 10th. During his visit, he and the British Chancellor of the exchequer Osborn jointly hosted the sixth Sino British economic and financial dialogue in Britain. The theme is "promoting the common growth and inclusive development of China and Britain". Ma Kai also met with British Prime Minister Cameron and attended the Sino British financial Roundtable and the Sino British Joint Investment Forum. Thereafter, Ma Kai will go to France to co chair the second Sino French high-level economic and financial dialogue with French finance minister Saban.

The sixth Sino British economic and financial dialogue ended on Friday. Osborn In an interview with the media, said that with the internationalization of the renminbi, the issuance of RMB bonds will be included in the British foreign exchange reserves. Osborn reviewed the situation three years ago. In 2011, he decided that making Britain the center of RMB trading in the west is the most important task. Ma Kai said that the issuance of treasury bonds by the United Kingdom is of historic importance.

China and Britain signed the agreement on trade settlement in London in March last year, so that London could compete with Luxemburg, New York, Paris and Frankfurt to make London the most important RMB overseas trading center in western countries. Osborn also expressed the hope that London could establish links with China's stock market.

　　 Ma Kai During the visit to Britain, the Chinese and British governments announced a series of measures to enhance relations between the two countries, especially in the financial field. Include:

Lloyd Bank of England has obtained permission from the Chinese side to open a branch in Beijing, and Lloyd can upgrade its Beijing office to a truly meaningful sub branch.

China will become one of the investment destinations after China has launched the RQDII project.