China hires 10 banks including Citigroup, HSBC for $2 billion sovereign bond issue

China has hired 10 banks including Agricultural Bank of China Bank of Communications, and Citigroup for its $2 billion dollar-denominated sovereign bond issue, according to an internal bank memo seen by Reuters on Friday. Besides Citigroup, other foreign banks hired by the People's Republic of China (PBOC), acting through the Ministry of Finance, for the issue are Deutsche Bank, HSBC , and Standard Chartered, the memo showed. Bank of China, China Construction Bank , China International Capital Corp, and Industrial and Commercial bank of China will also be working on the transaction.