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Bank of Nanjing to raise up to 30B yuan in 2017, 2018

Bank of Nanjing Co. Ltd. plans to raise no more than 30 billion Chinese yuan in bonds over the course of 2017 and 2018, the bank said Jan. 20.

Issuing debt will improve the structure of the bank's medium- and long-term liabilities and support its business development.

As of Jan. 20, US$1 was equivalent to 6.88 Chinese yuan.