China, the fastest-growing major economy, changed its rules in February to allow foreign companies to issue yuan-denominated bonds through Hong Kong as part of efforts to strengthen the former British colony?s position as a financial center and promote its currency for global commerce. Yuan bonds issued by Chinese companies have returned 6 percent this year, their best performance since 2005, according to a Bank of America Merrill Lynch index tracking 1.38 trillion yuan of debt.

McDonald?s sold its bonds in a private placement to Hong Kong institutional and professional investors, it said in a statement Thursday. Money raised will provide working capital for expansion in China, where it will open as many as 175 restaurants this year, according to the statement.

Source : Konaxis