China Backed Dollar Bond Sales Plunge

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🇨🇳 🇨🇳 Sales of China dollar notes carrying a so-called standby letter of credit, effectively a lender’s pledge to repay if the issuer can’t, slumped 90% to $1.04 billion so far this year from the previous year. This outpaced a 52% drop in China dollar bond sales to $52.2 billion for the same period, data shows
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