American banks, starring Goldman Sachs, lend amounts-record to yuan, exploiting low interest rates and increased demand for offshore Chinese bonds. Bond issues «dim sum» in Hong Kong this year 300 billion yuan ($44 billion), more than twice as many as in 2025. Goldman Sachs draws 32.1 billion yuan, 10% of the total market, using yields of around 3%, compared to 1.75% in mainland China. Beijing strengthens the internationalisation of yuan, facilitating access to fixed income products through the Bond Connect program.