Global Times (Lan Qingxin): w88 online sports betting, a new paradigm for RMB internationalization

(Source: Global Times 2025-04-09)

Recently, the Ministry of Finance of China successfully book-keeping and issuing the first w88 online sports betting bond denominated in RMB in London, UK, with a scale of RMB 6 billion. This time, it included 3 billion yuan for 3 years and 5 years, with face interest rates of 1.88% and 1.93% respectively, both lower than the treasury bond interest rate level in the same period in the Hong Kong secondary market, but the final subscription amount reached 41.58 billion yuan, and the subscription multiple was as high as 6.9 times.

This issuance is the second time China has issued RMB treasury bonds in London after nine years. It is the first time that China has issued w88 online sports betting bonds in the international market with sovereign credit endorsement. It is also a key measure to implement the results of the 11th China-UK Economic and Financial Dialogue policy. Embedding w88 online sports betting finance links into the global sustainable development agenda not only demonstrates the consensus between China and the UK in the field of w88 online sports betting finance, but also means that a major breakthrough has been made in the process of RMB internationalization.

China's w88 online sports betting have created a new paradigm for the internationalization of the RMB. The bonds will be listed on the Hong Kong Stock Exchange and the London Stock Exchange and will be escrowed by the Hong Kong Monetary Authority Central Settlement System (CMU).

From a technical perspective, the issuance of w88 online sports betting will also move the internationalization of the RMB from scale expansion to rule empowerment. The subscription multiple of this issuance (6.9 times) far exceeds the average level of US Treasury bonds during the same period (usually 2-3 times), reflecting international capital's confidence in China's sovereign credit and RMB assets.

At the same time, the issuance of w88 online sports betting also reflects China's firm commitment to promoting ecological civilization construction. According to the "Framework for w88 online sports betting of the People's Republic of China" released by the Ministry of Finance in February 2025, all funds raised will be used for green projects in the central fiscal budget, including climate change mitigation and adaptation, pollution prevention and control, and biodiversity protection.

In the long run, China's issuance of w88 online sports betting will not only attract international capital to support domestic green and low-carbon development, help to do a good job in green finance, and continue to promote the construction of a beautiful China, but also enrich the varieties of high-quality green bonds in the international market, promote the formulation and improvement of international green finance rules, and achieve a coordinated breakthrough in financial discourse power and climate leadership. Against the backdrop of intensifying volatility in US Treasury yields and questioning the credit of the US dollar, RMB w88 online sports betting provide diversified options for international capital.

The issuance of w88 online sports betting is a model for China to coordinate national strategy and global responsibility. It is not only a milestone in the process of RMB internationalization, but also a "green answer" submitted by China to the world.

(The authors are director and professor of the BRICS Research Center of the University of International Economics and Business, and doctoral student of the School of International Economics and Business, University of International Economics and Business)

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https://opinion.huanqiu.com/article/4MCLbEQPm6a