China's first quasi-sovereign RMB bond that landed on the London market was approved by the People's Bank of China and the National Development and Reform Commission. Zhang Xuguang, vice president of China Development Bank, said that the successful issuance of bonds by CDB in London was another milestone in the development of offshore RMB market.

With the promotion of RMB internationalization, the offshore RMB bond market has developed rapidly, and the allocation of RMB assets by overseas institutions has continued to heat up. The 10-year bond issued by CDB is the longest-term RMB bond issued and listed in London, which is helpful to improve the yield curve of offshore RMB bonds.