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The Chinese Ministry of Finance announced today (June 14) the issue of Renminbi (RMB) sovereign bonds totalling RMB 23 billion in Hong Kong this month, among which RMB 2 billion will be issued to overseas Central Banks and RMB 15.5 billion to institutional investors through Hong Kong's Central Moneymarkets Unit (CMU); and RMB 5.5 billion will be issued to retail investors.
The Financial Secretary, Mr John C Tsang, said, "The HKSAR Government welcomes the issuance of RMB sovereign bonds by the Ministry of Finance in Hong Kong for the fourth time. This round of bond issuance demonstrates clearly the Central Government's support for Hong Kong's development as an offshore RMB business centre, as one of the measures announced by the Vice-Premier of the State Council, Mr Li Keqiang, during his visit to Hong Kong last August to support Hong Kong's financial development as set out in the 12th Five-Year Plan."
Mr Tsang added that the amount of RMB 23 billion for the current issuance of RMB sovereign bonds exceeds the amount of bond issuance last year. The current issuance also offers for the first time RMB sovereign bonds of 15-year tenor for institutional investors, which helps set the benchmark yield for long-term RMB bonds in Hong Kong.
Ends/Thursday, June 14, 2012
Issued at HKT 20:46
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