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The Ministry of Finance announced today (November 3) its plan to further issue Renminbi (RMB) sovereign bonds totalling RMB12 billion in Hong Kong in the week of November 17, of which RMB9 billion will be issued to institutional investors using a tendering method on the Central Moneymarkets Unit (CMU) of the Hong Kong Monetary Authority and RMB3 billion will be issued to Hong Kong residents through placing banks and the Hong Kong Stock Exchange platform. This is the second time this year that the Ministry of Finance is issuing RMB sovereign bonds in Hong Kong - the first batch of RMB16 billion was issued on May 21.
The Financial Secretary, Mr John C Tsang, said, "The HKSAR Government welcomes the continued issuance of RMB sovereign bonds in Hong Kong twice this year by the Ministry of Finance, amounting to RMB28 billion, larger than the RMB23 billion issued last year. This would be conducive to the Government's objective to develop Hong Kong as an offshore RMB business centre and Hong Kong's bond market."
Ends/Monday, November 3, 2014
Issued at HKT 19:43
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