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Bank of Communications to issue 40B yuan perpetual bonds mid-September

Bank of Communications Co. Ltd. will issue 40 billion yuan of perpetual bonds Sept. 18, Shanghai Securities News reported, citing a document from the bank.

The minimum subscription amount is 10 million yuan, the report added.

The issue was approved by the China Banking and Insurance Regulatory Commission in July.

As of Sept. 12, US$1 was equivalent to 7.08 Chinese yuan.