Financial Secretary John Tsang today welcomed the Ministry of Finance's announcement of its plan to further issue sovereign bonds totalling RMB14 billion in Hong Kong in the week of November 23.

The first batch of RMB14 billion was issued on May 20.

Mr Tsang said: "The HKSAR Government welcomes the continued issuance of renminbi 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 renminbi business hub and Hong Kong's bond market. The Ministry of Finance's issuance consists of renminbi sovereign bonds in different tenors, which enables the development of a more complete yield curve for offshore renminbi bonds."