HKMA welcomes issuance of bonds in Hong Kong by People's Government of Hainan Province
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The People's Government of Hainan Province announced today (October 24) that it will issue offshore Renminbi (RMB) bonds not exceeding RMB5 billion in Hong Kong in October 2022, which will be lodged with the Central Moneymarkets Unit. The Hong Kong Monetary Authority (HKMA) welcomes the issuance.
The bonds will be eligible collateral for HKMA's RMB Liquidity Facility, for the list of eligible collateral was expanded in September 2021 to also include the RMB, USD and Euro denominated debt securities issued in offshore markets by the Local People's Governments at various levels of the People's Republic of China (Note).
The Chief Executive of the HKMA, Mr Eddie Yue, said, "We welcome the People's Government of Hainan Province to issue its first offshore RMB bonds in Hong Kong, which include blue bond and sustainable bond. It will be the first offshore bond issuance by a local government outside the Greater Bay Area. The HKMA will provide the necessary assistance for this issuance. The issuance will strengthen Hong Kong's status as a global offshore RMB business centre, and a premier green and sustainable finance hub in Asia. We will continue to support more Mainland local governments and corporates to issue green and sustainability bonds in Hong Kong."
Note: See the circular "Expansion of Eligible Collateral for the Renminbi (RMB) Liquidity Facility" dated September 27, 2021.
Ends/Monday, October 24, 2022
Issued at HKT 19:42
Issued at HKT 19:42
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