CHINA

China to Sell Foreign-Denominated Bonds Domestically: Bank of China plans its first domestic sale of bonds denominated in foreign currencies, Xinhua News Agency reported. The issue, expected this year, is designed to raise hard currency to finance China’s rapid economic construction. The bonds will be sold for U.S. dollars and Hong Kong dollars only, the report said. China has issued bonds abroad, but Xinhua said it will be the first time a Chinese bank issues foreign-denominated bonds domestically.