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Industrial Bank to issue 200B yuan of bonds

Industrial Bank Co. Ltd. plans to issue 200 billion yuan worth of bonds in multiple tranches before the end of 2018.

The bonds will be issued both within and outside China and will carry a maturity period of no more than 10 years.

The plan is subject to shareholder approval.

As of Dec. 20, US$1 was equivalent to 6.95 Chinese yuan.