Goldman Leads Record US Bank Borrowing in Renminbi
europeanbusinessmagazine.com
US banks led by Goldman Sachs have borrowed a record Rmb47.5bn in dim sum bonds this year as wall street goes for renminbi

cross-posted from : https://lemmy.zip/post/63263305

US banks led by Goldman Sachs have borrowed a record Rmb47.5 billion in offshore renminbi debt so far in 2026, with Goldman accounting for the majority of self-led issuance, the Financial Times reported this morning.

Deutsche Bank placed the largest single panda bond ever issued by a foreign bank in March 2026 at Rmb5.5 billion

    • Barley_Man@sopuli.xyz
      15·
      2 days ago

      The currency is called renminbi, meaning “the peoples currency”. However in Chinese you don’t say 12 renminbi, you say 12 yuan. So the counting word, or unit, is yuan. Yuan is also used to count other currencies in Chinese.

      If you are confused you can think of the British currency. Its name is sterling but you don’t say “I have 5 sterlings”. You have to say 5 pounds or 5 pence or similar counting words.

      So how does this work in English? No idea. I don’t even know if there is an official or correct way. However I have noticed that in contexts that talk a lot about China, like foreigners living in China or professional analysts who specialize in china, they tend to use renminbi. And in contexts where the reader is not expected to know much about China they use yuan. It’s almost like using the term renminbi is like a symbol saying “hey look I know a lot about China”. Which I think is a bit stupid.

      • CookieOfFortune@lemmy.world
        3·
        2 days ago

        I’ve always just heard yuan before. Like a counterpart to the Japanese yen and the Korean won (same root anyways). Renminbi would just kind of be weird.

    • john_t@piefed.eeEnglish
      5·
      2 days ago

      Have you not seen Lethal Weapon 4? I’ve known what Renminbi means since before China joined the WTO thanks to that movie.

      • idiomaddict@lemmy.world
        4·
        2 days ago

        Is that a big cultural touchstone? I haven’t even seen the first one and I have a shame crush on Mel Gibson (he’s a terrible person, I’m not endorsing him)

    • Dr. Bob@lemmy.ca
      3·
      2 days ago

      It’s been explained to me that renminbi vs yuan is the same as cash vs dollar. The dollar and yuan is the currency. Cash and renminbi is the concept of money

      There is another comment that explains this much more clearly.

        • Dr. Bob@lemmy.ca
          1·
          2 days ago

          I think we are saying the same thing. They just explained it better. Renminbi is conceptual, yuan is physical. I could be wrong then. It’s been 20 years since I learned it and haven’t needed that nugget.