China allows IFC, ADB to issue debt

China's State Council has given approval for the International Finance Corp and the Asian Development Bank to issue yuan-denominated debt on the mainland, the Ministry of Finance said in a statement on its website.

The brief statement did not give details of debt issues, which are still pending approval by the central bank.

ADB is planning to issue one bln yuan in debt, an unnamed ADB official said according to AFX, without giving more details.

Earlier media reports said that the Asian

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