China considers London for £320bn bond sale
The Chinese government is mulling the sale of 3bn yuan (£320bn) worth of bonds in London, in what would be the first sale of government debt priced in yuan outside of Hong Kong.
The yuan is worth a fraction of a pound, not a multiple. It’s a £320 million potential offering.
And it’s actually worse than that. They link to Bloomberg as their source:
The bond sale would be a boon to the UK Government, which has been keen to forge tighter ties with leaders in Beijing. Bloomberg, which first reported the news citing people familiar with the matter, said that the timing and terms of the issuance had not been decided by China’s Ministry of Finance.
China is considering the sale of about 3 billion yuan ($464 million) of bonds in London, according to people familiar with the matter.
The arts graduates are only out by three orders of magnitude.