During a week of China-themed activities to celebrate President Xi Jinping’s State Visit visit to the UK, Standard Chartered got heavily involved in a range of events which underlining the deeper collaboration between China and the UK across the financial services sector, and strengthened China-UK economic relations. Of particular note:
Standard Chartered was appointed by the People’s Bank of China as one of the Joint Bookrunners in London for their inaugural CNH Bond transaction, which raised RMB5bn.
Standard Chartered China received regulatory approval to underwrite non-financial debt in China’s interbank bond market. This is part of the recent liberalisation and development of the debt capital markets in China, to make the market more competitive and to increase the bond market capacity for Chinese businesses.
Standard Chartered was also a signatory to the London Metals Exchange Memorandum of Understanding on the One Belt One Road initiative (OBOR), which aims to support funding for OBOR infrastructure projects as well as the internationalisation of renminbi.
Standard Chartered Group Chief Executive Bill Winters commented, “We are delighted to welcome President Xi to the UK and to celebrate our cultural and economic ties. We are pleased to support China’s ambitions for renminbi and its evolution in the world economy. We have had a continuous presence in China since 1858 and it is a vital part of our business; the opportunities for our clients as China opens up to the world continue to grow.”
