SHANGHAI: Singapore-based DBS Group Holdings Ltd said yesterday that it has started preparatory work for issuing yuan-denominated bonds in China and would communicate with regulators and investors in due time.

"Yuan bonds are new products and we're actively considering whether to launch them this year," said Melvin Teo, director and chief executive officer (designate) of DBS Bank (China) Ltd in Shanghai.

DBS is also actively looking for sources of funding in China, and will take a close look at the progress of yuan bonds, said Koh Boon Hwee, chairman of DBS Group.