London Stock Exchange welcomes the listing of China Merchants Bank London Branch’s first Dim Sum Bond
London Stock Exchange today welcomes the listing of China Merchants Bank London Branch’s CNH 3 billion senior unsecured fixed rate notes on its International Securities Market, marking a significant milestone in the development of offshore RMB capital markets in London.
Headquartered in Shenzhen, China Merchants Bank (CMB) is a leading Chinese joint-stock commercial bank with a strong retail franchise as well as diversified wholesale and retail financial service offerings. In 2025, the Bank ranked 8th globally by Tier 1 capital in The Banker’s “Top 1,000 World Banks” and 10th among the “Top 500 Banking Brands” by the Brand Finance. Since its inception in 2016, CMB London Branch has played a key role in supporting the Bank’s global strategy and cross-border banking activities, particularly in advancing the RMB internationalisation. According to the latest London Offshore RMB Market Report, its outstanding offshore RMB lending (i.e. the bank-to-customer loans) accounts for more than a quarter of the London market.
Issued under the Bank’s Medium-Term Note Programme, this transaction represents multiple highlights: the first CNH public bond issuance by CMB since 2015, the first CNH public bond offering by CMB London Branch, and the first-ever dim sum bond listed on the London Stock Exchange by a Chinese joint-stock commercial bank. The listing further underscores London’s position as a leading international centre for offshore RMB financing and cross-border capital market activities.
The ceremony was attended by senior executives of the Bank, representatives from government, the Chinese banking community, and the wider UK financial sector, including Mr. Jiawen Peng, Executive Vice President & CFO of China Merchants Bank, Mr. Christopher Hayward, Policy Chairman of the City of London Corporation, and Mr. Benlin Yu, Minister of the Chinese Embassy in the United Kingdom.
“Financial cooperation between China and the UK has continued to deepen, from the growing interconnection of our capital markets to the development of green finance, with both sides working together to promote a more open and efficient international financial system, and we are deeply honoured to have both participated in and benefited from this ongoing process. We will take this issuance as a new starting point to further expand our cross-border business footprint, deepen our integration into the global financial system, and contribute more actively to the internationalisation of RMB.”
Mr. Jiawen Peng
Executive Vice President and CFO of China Merchants Bank
