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Ping An Bank to issue 15B yuan of bonds

Ping An Bank Co. Ltd. received regulatory approval to raise up to 15 billion Chinese yuan by issuing bonds.

The bonds will be issued in the Chinese interbank bond market, the bank said June 9.

Ping An Bank is a unit of Ping An Insurance (Group) Co. of China Ltd.

As of June 9, US$1 was equivalent to 6.80 Chinese yuan.