Australia to offer further renminbi products
By Gao Changxin in Shanghai | China Daily | Updated: 2014-04-12 07:20
The head of the Australian Securities Exchange said on Friday it wants to introduce yuan-denominated capital markets products, including bonds. The exchange launched Australia's first yuan payment platform in February.
ASX CEO Elmer Kupper made the comments in Shanghai. The Bank of China's Sydney branch issued 2 billion yuan ($325 million) worth of yuan bonds on Wednesday, the first yuan bond in Australia.
The two-year "Oceania Bond" has a coupon of 3.25 percent, and it was oversubscribed 1.45 times. The Bank of China said it has applied to have the bonds trade on the Australian Securities Exchange.
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