Financial Secretary Paul Chan has welcomed the Ministry of Finance’s issuance of renminbi sovereign bonds in Hong Kong for the ninth consecutive year.
The ministry announced today its plan to issue RMB14 billion in sovereign bonds in Hong Kong this year, split equally in the first and second half of the year.
The ministry also plans to issue US$2 billion in US dollar sovereign bonds outside the Mainland in the second half of the year. Details will be announced later.
In a statement tonight, Mr Chan said the plan shows the Central Government’s support in reinforcing Hong Kong’s status as an international finance centre and global offshore RMB business hub.
It is conducive to the development of the local bond market.
Issuing sovereign bonds in a currency other than the RMB will help promote financial integration between the Mainland and international markets, and hence the RMB’s internationalisation, he added.
