Britain’s finance ministry is welcoming China’s decision to launch its first sovereign bond overseas in London. 

The three-year bond is worth 3 billion yuan, and is being marketed at a price similar to those sold in Hong Kong. Hong Kong is the usual venue for Chinese debt aimed at the offshore market.

British Finance minister George Osborne Thursday prioritized financial market links between Britain and China. 

China last year sold 5 billion yuan of short-term central bank notes in London for the first time.