China’s finance ministry to issue RMB23b of sovereign bonds in HK
The bonds will be issued in four batches.
China’s Ministry of Finance will issue sovereign bonds totalling RMB23b (HK$27.05b) in Hong Kong this year.
The bonds will be issued to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region.
The first of the four batches of bonds will be worth RMB7.5b (HK$8.82b) and will be issued in two-year, three-year and five-year tenors on June 15.
China’s Financial Secretary Paul Chan said the issuance of the foreingn bonds shows the Central People's Government's “staunch support of Hong Kong's status as an international financial centre and global offshore RMB business hub.”
The Hong Kong SAR, for its part, welcomed the ministry's issuance of renminbi sovereign bonds in Hong Kong for 14 consecutive years.
1 HKD = 0.85 RMB