BRICS member Russia announced on Thursday that it plans to float the first Chinese yuan bonds in December. The Russian Finance Ministry said that the government is planning to issue the local currency bonds on December 8, 2025. The offer volumes and coupon rates will be determined after the bid book is planned, said the Ministry.
The issuance of the Chinese yuan bonds by Russia, a BRICS counterpart, displays the deep-rooted cordial ties between the two countries. The standing coupon yields will be offered to investors with a maturity period from three to seven years. The base value of the bonds will be 10,000 yuans with a coupon period of 182 days.
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“The Russian Finance Ministry informs about the planned debut floating of government securities of the Russian Federation, nominated in the Chinese yuan,” by the BRICS country. Adding, “Offer volumes and coupon rates for issues will be determined according to the results of collecting the bid book planned for December 2, 2025. The technical offering is planned on December 8, 2025,” the Ministry said.
Chinese Yuan Bonds Making Their Way Into BRICS
The BRICS members are considering Chinese yuan bonds to fund their governmental projects, as it’s the strongest currency among the member nations. In addition, China has been pumping the yuan in an effort to internationalize the currency. It is also offering a lower interest rate on loan repayment for countries choosing to pay in the yuan.
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The Xi Jinping administration has been the most aggressive in promoting the Chinese yuan among BRICS members. Russia has adopted trade in local currencies, with China paying in the yuan and ruble. However, countries such as India and Brazil are mostly shying away from overusing the local currency. They want their local currencies to succeed and are not keen on using the yuan for trade.