May 21, 2009 (China Knowledge) - HSBC Holdings Plc<0005><HBC> and Bank of East Asia<0023> said on Tuesday that their China subsidiaries had secured approval from the State Council to issue RMB- denominated bonds in Hong Kong as part of China's plan to develop its offshore RMB market, Reuters reported.
They are the first foreign banks to be allowed to do so. Foreign banks usually
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