Finance ministry to issue 10-year RMB sovereign bonds

The bonds total RMB1b.

The Ministry of Finance announced it will issue a ten-year Renminbi (RMB) sovereign bonds, totalling RMB1b.

The issuance also comes with an additional RMB sovereign bond totalling RMB4b in Hong Kong, due in 2024.

"The Hong Kong Special Administrative Region Government strongly welcomes the Ministry of Finance's continuing issuance of RMB sovereign bonds in Hong Kong,” Financial Secretary Paul Chan said.

“This demonstrates clearly the Central People's Government's full support of the development of Hong Kong's status as an international financial centre and the global offshore RMB business hub.”

The RMB sovereign bonds will be issued by the Hong Kong Monetary Authority, through its Central Moneymarkets Unit.

“It is conducive to further promoting the development of the bond market in Hong Kong and attracting more international capital to the Hong Kong market, which will help create strong impetus for the growth of Hong Kong," Secretary Chan also said.

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