The People’s Bank of China has launched a yuan-denominated bond in London for the first time as it seeks to internationalise its currency. The debt sale worth 5.0 billion yuan (690 million euros) for one-year bonds was heavily oversubscribed according to a banking source. The auction for the bonds offering a yield of 3.15 percent coincided with the start of a four-day visit to Britain by Chinese President Xi Jinping. It is said to be the first time that a yuan-denominated bond auction has taken place outside of China and Hong Kong.

Did You Know?

• China is often considered the longest continuous civilization, with some historians marking 6000 B.C. as the dawn of Chinese civilization.
• Toilet paper was invented in China in the late 1300s. It was for emperors only.
• China invented ice cream, and Marco Polo is rumored to have taken the recipe (along with the recipe for noodles) back with him to Europe.
• The crossbow was invented and first used by the Chinese. They were also the first in the world to use chemical and gas weapons.
• The longest river in China is the 3,494-mile Yangtze (Changjian) River and the 2,903-mile-long Yellow (Huanghe) River.