China’s central bank issued its first offshore RMB note in London on Wednesday, coinciding with President Xi Jinping’s visit to the UK. It’s the first time that a renminbi note has been issued outside China. The one-year note is worth 5 billion yuan, or 786 million US dollars, with an interest rate of 3.1 percent. The central bank said it will help establish an offshore renminbi market and facilitate cross-border trade and investment.
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