DubaiBank of China’s 2 billion yuan bond drew 5 times demand.

Sovereign accounts took over 30%, and it is the first Yulan bond in the Middle East.

Yulan bonds settle through Euroclear, letting buyers skip China’s domestic settlement regime.

Cumulative Yulan issuance since 2020 topped 30 billion yuan by July, Shanghai Clearing House figures show.

Ratings agency Dongfang Jincheng expects Yulan issuance to keep growing through the second half.

How each outlet framed it
South China Morning Post leans favorable
frames the deal as a yuan-internationalisation move, quoting Ucon's Gu Weiyong on regional issuers tapping renminbi

Sources: South China Morning Post