Russia strengthens financial ties to China with first renminbi bond
Country’s $3bn ‘dim sum’ bond will help finance war in Ukraine and could lead to many more
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Why China needs to let the renminbi rise
A steady appreciation would boost domestic consumption and improve trade relations
Why China’s renminbi push matters even if it never rivals the dollar
If renminbi settlement becomes cheaper and more trade migrates, firms will have less need to generate or hold US currency