Dubai:Nasdaq Dubai has welcomed the listing of a CNH2 billion Yulan Bond issued by the Bank of China (Dubai Branch), marking the first Yulan Bond to be listed on the exchange. This two-year fixed-rate note, which matures in October 2028, is dual-listed on Nasdaq Dubai and the Hong Kong Stock Exchange.
According to Emirates News Agency, the bond issuance attracted strong demand from both regional and international investors. The final yield tightened by 50 basis points from the initial price guidance of 2.10 percent to 1.60 percent. The bond carries an A credit rating from Fitch Ratings, reflecting Bank of China's Long-Term Issuer Default Rating, with net proceeds intended for general corporate purposes.
Registered and held through the Shanghai Clearing House (SHCH) and settled internationally through Euroclear, Yulan Bonds adhere to international custody practices, allowing global investors direct access. To mark the listing, Zeng Jixin, Ambassador of the People's Republic of China to the UAE, rang the market-opening bell at Nasdaq Dubai. He was joined by Ou Boqian, Consul-General of the People's Republic of China in Dubai; Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM); and senior Bank of China executives.
Zeng Jixin noted that the issuance represents a step forward in promoting the cross-border use of the renminbi and strengthening connectivity between Chinese financial infrastructure and international markets. He highlighted the expanding China-UAE financial cooperation across local-currency settlement, investment, financing, and financial innovation, with the listing broadening access to renminbi financial products in the Middle East.
Ou Boqian remarked that the listing reflects the increasing integration of Chinese institutions into Dubai's financial market, supporting growing China-UAE economic and trade cooperation. Hamed Ali stated that the listing provides global investors with another avenue to access offshore renminbi fixed income and builds on more than US$31.9 billion in cumulative Chinese debt activity on Nasdaq Dubai. He added that the dual listing indicates closer links between regional and Asian capital markets.
In September 2026, the Dubai Financial Services Authority (DFSA), Nasdaq Dubai, the Hong Kong Monetary Authority (HKMA), and Hong Kong Exchanges and Clearing Limited (HKEX) formed a Strategic Working Group to explore cross-border listings, market connectivity, and multi-currency debt issuance. The total outstanding debt listed on Nasdaq Dubai now exceeds $145 billion, reinforcing the exchange's role as an international hub for fixed-income issuances and cross-border investment.