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The Ministry of Finance announced today (April 28) its plan to issue Renminbi (RMB) sovereign bonds totalling RMB 28 billion in Hong Kong this year, of which RMB 16 billion will be issued to institutional investors, overseas Central Banks and monetary authorities on May 21 and RMB 12 billion will be issued to institutional investors and Hong Kong residents in the second half of the year. Details will be announced later.
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 sixth consecutive year. The Ministry of Finance will issue RMB sovereign bonds totalling RMB 28 billion this year, larger than the RMB 23 billion issued last year in terms of size. Same as last year, the RMB sovereign bonds will be issued twice this year, regularising the issuance programme. This demonstrates clearly the Central Government's support in developing Hong Kong as an offshore RMB business centre. It would also be conducive to the Government's objective to develop Hong Kong's bond market."
Ends/Monday, April 28, 2014
Issued at HKT 20:06
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