Small but well formed: China cuts pricing on CNH auction
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Asia

Small but well formed: China cuts pricing on CNH auction

RMB bank note 230 x 150

China’s Ministry of Finance sold Rmb5bn ($755.5m) of offshore RMB bonds on Thursday, and managed to keep the coupons of the two tranches below last year’s levels. But analysts say the sovereign’s success was limited by a modest fundraising target, which partly reflects the shift of focus to onshore Chinese bonds.

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