Abu Dhabi National Oil Company (ADNOC) plans to issue its first-ever yuan-denominated bonds, in the latest sign of the Chinese currency's growing role in global finance. ADNOC, one of the world's largest oil producers, is seeking to diversify its funding sources. The issuance of yuan bonds opens up a new pool of investors for the company. This move also strengthens the economic ties between the UAE and China. Analysts expect high demand for these bonds, given the issuer's strong credit profile. The bond issuance in Chinese currency reflects the global trend of reducing dependence on the US dollar.
