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| No.4 August, 2011 |
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HKSAR Government welcomes Central Government's plan to issue RMB sovereign bonds in HK again |
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 The Chinese Ministry of Finance announced on August 3 the issue of Renminbi (RMB) sovereign bonds totalling RMB20 billion in Hong Kong. Of this RMB15 billion in sovereign bonds will be issued through Hong Kong's Central Moneymarkets Unit (CMU) for institutional investors and RMB5 billion in sovereign bonds will be for retail investors.
The Financial Secretary, Mr John C Tsang, said, "The HKSAR Government welcomes the issue of RMB sovereign bonds by the Ministry of Finance in Hong Kong for the third time. This round of issuance of bonds demonstrates clearly the Central Government's support for Hong Kong's development as an offshore RMB business centre, as announced in the 12th Five-Year Plan."
Mr Tsang added that the amount of RMB20 billion for the current issuance of RMB sovereign bonds exceeds the aggregate of bond issuances in the past two years. The current issuance also offers RMB sovereign bonds of three-year, five-year, seven-year and 10-year tenors for institutional investors. This provides a wider range of tenors than before and helpi set the benchmark yield for RMB bonds in Hong Kong.
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