The UK government has appointed a handful of banks to manage the country's first sovereign bond issue denominated in China's renminbi currency.
Bank of China, HSBC and Standard Chartered will arrange the UK's "dim sum" bond debut, expected soon after an investor meeting on Oct 13.
The UK is dipping into the exotic but rapidly-growing market to try to snatch a slice of what some analysts expect will be one of the biggest developments in global finance in the coming decades. The gradual unshackling and internationalisation of China's renminbi, will allow it to become a contender for reserve currency status.
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