LONDON, July 6 (Greenpost) — London Stock Exchange Group (LSEG) Monday announced that it has witnessed the first Euro-denominated bond by a Chinese issuer admitted to trading on its markets.

Bank of China (BoC) has issued a 500-million-euro (or 550 million U.S. dollars) bond listed in London, through its Hungarian branch, as part of wider bond issuance program by the bank to provide funding for China’s ‘One Belt, One Road’ projects, said LSEG.

The project aims at boost links and commerce between China and countries along the old land-based and maritime silk routes, noted the group.

Nikhil Rathi, Director of International Development at LSEG said in a statement: “This latest Euro-denominated bond, a first for a Chinese issuer, demonstrates London Stock Exchange’s apposition as the leading gateway for Chinese firms looking to access European and global capital in the full range of currencies.”

Chen Huaiyu, General Manager of Bank of China Hungarian Branch said: “The success of the bond issued by Bank of China Hungarian Branch shows that international investors have great confidence in the CEE region and also in the ‘One Belt, One Road’ projects initiated by China in this region.

“Bank of China will accelerate the establishment of branches in CEE countries and will provide more financial support to this region in the future,” added Chen.

According to LSEG’s data, fifty-seven Chinese companies are currently quoted in London, with eight on the Main Market and 49 on Alternative Investment Market. In addition, thirty-two so-called dim sum bonds, or offshore RMB-denominated bonds, are traded on London Stock Exchange’s market, with a aggregate value of RMB 24 billion. Enditem

Source Xinhua

Editor  Xuefei Chen Axelsson

 

Chinese company acquires Czech turbine manufacturer

 

XI’AN, July 5 (Greenpost) — Xi’an Shaangu Power, a Chinese engineering company based in northwestern Shaanxi province, paid 318 million yuan (51 million U.S. dollars) for a 75 percent stake of Brno Ekol, a leading Czech turbine manufacturer.

According to an agreement signed by the two companies in January, the acquisition will take place in two steps, with delivery of the remaining stake completed in the years to come.

It is the biggest amount paid by China into Czech’s manufacturing industry over the recent years, accounting for about 17 percent of China’s total investment into the European country.

Shaangu Power, established in 1999, is a major industrial compressor producer in China. Enditem

Source Xinhua

Editor Xuefei Chen Axelsson