Portuguese spokesman spells out benefits of yuan-denominated bonds

A spokesman for Portuguese Prime Minister Antonio Costa has said that if Portugal were to issue bonds denominated in yuan, it would help make the renminbi more widely used around the world, Reuters reports.
The news agency quotes the spokesman as saying the any such bond issue would open up a new market for Portuguese debt, and support the internationalization of the renminbi.
Strengthening trade links between China and Portugal could benefit the people of both countries, the spokesman added.
Contacted by Reuters, the debt offices of Ireland, Italy and Belgium said they were open to issuing in yuan, while France, Spain and the Netherlands said they had no such plans.
Representatives of Portugal and China have already discussed the idea of Portugal issuing bonds denominated in yuan. If the idea becomes reality, Portugal would the first euro zone country to issue yuan-denominated bonds.