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The Ministry of Finance announced yesterday (November 16) its plan to further issue Renminbi (RMB) sovereign bonds totalling RMB14 billion in Hong Kong in the week of November 23, of which RMB12 billion will be issued to institutional investors, central banks and monetary authorities outside Mainland China using a tendering method on the Central Moneymarkets Unit of the Hong Kong Monetary Authority and RMB2 billion will be issued to Hong Kong residents through placing banks and the Hong Kong Stock Exchange platform. Details will be announced later. This will be the second time this year that the Ministry of Finance has issued RMB sovereign bonds in Hong Kong. The first batch of RMB14 billion was issued on May 20.
The Financial Secretary, Mr John C Tsang, said, "The Hong Kong Special Administrative Region Government welcomes the continued issuance of RMB sovereign bonds in Hong Kong by the Ministry of Finance, in a move to regularise the issuance programme. This would be conducive to the Government's objective to develop Hong Kong as a global offshore RMB business hub and Hong Kong's bond market. The Ministry of Finance's issuance consists of RMB sovereign bonds in different tenors, which enables the development of a more complete yield curve for offshore RMB bonds."
Ends/Tuesday, November 17, 2015
Issued at HKT 17:51
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