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Who will be the primary buyers of China's $2 billion US dollar bonds in Saudi Arabia by December 31, 2024?
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Financial reports or announcements from China's Ministry of Finance
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China to Issue $2 Billion in Dollar Bonds in Saudi Arabia for First Time Since 2021
Nov 5, 2024, 08:58 AM
China's Ministry of Finance announced plans to issue up to $2 billion in US dollar-denominated sovereign bonds in Riyadh, Saudi Arabia, during the week of November 11. This marks China's first dollar bond issuance since 2021, following a euro-denominated debt sale in September. The move is expected to boost overseas market confidence and deepen financial ties between China and Saudi Arabia. The bond sale comes as part of broader efforts to strengthen economic relations between the two nations. The issuance is also seen in the context of the BRICS de-dollarisation efforts.
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