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Chinese banks told to issue more offshore US dollar bonds

While the PBOC (above) has not explained its reasons, market participants think it aims to curb renminbi depreciation by keeping US dollar outflows within the Chinese financial system.

Hong Kong

CHINA'S central bank is said to have encouraged banks to issue more offshore US dollar bonds at a time of steep declines in the country's foreign reserves, raising supply prospects for the sector.

The People's Bank of China (PBOC) encouraged banks at a meeting late last...

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