China set to welcome first SDR bonds since 1980s

Hong Kong

CHINA is set to welcome the issuance of bonds linked to the International Monetary Fund's (IMF) Special Drawing Rights (SDR), the world's first in three decades, as the nation supports the growing global role of the yuan ahead of its official inclusion in the basket of reserve currencies in October.

The World Bank is planning to issue a bond of up to 500 million SDR units (US$692.5 million) in China's interbank market, people familiar with the matter said on Thursday.