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The Ministry of Finance announced today (June 9) the issue of Renminbi (RMB) sovereign bonds totalling RMB 23 billion in Hong Kong this year, of which RMB 13 billion will be issued on June 26 and RMB 10 billion will be issued in the second half of the year. Of the RMB 13 billion to be issued on June 26, RMB 10 billion will be issued to institutional investors using a tendering method on the Central Moneymarkets Unit (CMU) of the Hong Kong Monetary Authority and RMB three billion would be placed to overseas Central Banks and monetary authorities. Of the RMB 10 billion to be issued in the second half of the year, RMB seven billion will be issued to institutional investors and RMB three billion 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 fifth consecutive year. RMB sovereign bonds will be issued twice this year, more frequently than before, in a move to regularise the issuance programme. This demonstrates clearly the Central Government's determination to make the issuance of RMB sovereign bonds to be a long-term institutional arrangement in Hong Kong. The current issuance also offers for the first time RMB sovereign bonds of 30-year tenor for institutional investors, extending the benchmark yield curve for RMB bonds in Hong Kong. It will increase the supply of long-term RMB denominated fixed income products for institutional investors, including pension funds. This would be conducive to the Government's objective to develop Hong Kong's bond market."
Ends/Sunday, June 9, 2013
Issued at HKT 19:42
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