Nasdaq Dubai Welcomes Bank of China Dubai Branch’s CNH 2 Billion Issuance, Marking the Exchange’s First Yulan Bond Listing

Nasdaq Dubai celebrated the listing of a CNH 2 billion Yulan Bond issued by Bank of China (Dubai Branch), the first-ever Yulan Bond to list on the exchange. The landmark two-year fixed rate note, maturing in October 2028, is dual listed on Nasdaq Dubai and the Hong Kong Stock Exchange.

The transaction attracted demand from regional and international investors, with the final yield tightening by 50 basis points from the initial price guidance of 2.10% to settle at 1.60%. The bond carries an 'A' credit rating from Fitch Ratings, reflecting Bank of China’s Long-Term Issuer Default Rating. Net proceeds will be utilized for general corporate purposes. Registered and held through the Shanghai Clearing House (SHCH) and settled internationally via Euroclear, Yulan bonds follow international custody practices, allowing investors worldwide to access them directly.

To commemorate the listing, H.E. Zeng Jixin, Ambassador of the People's Republic of China to the UAE, rang the market opening bell at Nasdaq Dubai, accompanied by H.E. 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 executives from Bank of China.

H.E. Zeng Jixin, Ambassador of the People's Republic of China to the UAE, said: "The successful issuance and listing of this renminbi bond by Bank of China is another important achievement in Chinese financial institutions' efforts to actively explore international financial markets and promote the cross-border use of the renminbi. It is also a vivid practice of China's financial infrastructure strengthening connectivity with international markets. In recent years, under the strategic guidance of the leaders of both countries, China-UAE practical cooperation in the financial sector has continued to expand, with positive progress made in local currency settlement, investment and financing cooperation, and financial innovation. The successful listing of this bond has further enriched the supply of renminbi financial products in the Middle East, broadened renminbi financing channels in the regional market, and injected new momentum into promoting bilateral trade and investment exchanges and advancing the high-quality development of the China-UAE comprehensive strategic partnership."

H.E. Consul General Ou Boqian said: "The successful listing of this bond is a vivid example of Chinese institutions in the consular district deeply integrating into the local financial market and serving China-UAE economic and trade exchanges. The Consulate General will, as always, create a favorable environment for Chinese institutions in the consular district to operate in compliance with local rules and grow steadily, and will promote new achievements in China-UAE practical cooperation."

Hamed Ali, CEO of Nasdaq Dubai and DFM, said: “We welcome Bank of China’s Yulan Bond listing, the first on Nasdaq Dubai, which opens an efficient avenue for global investors to access offshore Renminbi fixed income through established Chinese infrastructure. This milestone transaction builds on a cumulative footprint exceeding USD 31.9 billion in Chinese debt activity on Nasdaq Dubai, anchored by high-profile sovereign, state-owned banking, and multilateral issuances. The dual listing with HKEX underscores how our financial ecosystems are converging to connect regional and Asian capital markets.

The listing reflects the deepening financial cooperation between Asia and the UAE, with the dual listing alongside Hong Kong an example of the cross-border activity that institutions across these markets are working to support. In September 2026, the DFSA, Nasdaq Dubai, the Hong Kong Monetary Authority (HKMA) and Hong Kong Exchanges and Clearing Limited (HKEX) established a Strategic Working Group to explore collaborative initiatives in cross-border listings, market connectivity, and multi-currency debt execution.

Total outstanding debt on Nasdaq Dubai expands beyond USD 145 billion, supporting its role as a strategic international hub for fixed income issuances and cross-border investments.