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First batch of RMB bonds to be issued in Hong Kong

(Xinhua)
Updated: 2009-09-18 11:27

The first batch of Renminbi treasury bonds, valued at 6 billion yuan ($878.85 million), is expected to be issued in Hong Kong on Sept 28, China's Ministry of Finance (MOF) announced Thursday.

Of the total amount, no less than 2 billion yuan will be for retail sales.

Related readings:  CDB to issue RMB bonds in Hong Kong  Hong Kong companies to issue RMB bonds  EXIM to offer 3b yuan worth of RMB bonds  Bank of China launches RMB bonds in Hong Kong

It was the first time the central government has issued yuan-denominated treasury bonds outside the Chinese mainland.

The aim of issuing the bonds to individuals and institutions inHong Kong is to strengthen financial cooperation between the mainland and Hong Kong, and boost Hong Kong's economic growth, said an official with the Ministry of Finance (MOF).

According to the MOF, the 2-year bonds will be mainly offered to individual investors, while the 5-year bonds will be for institutional investors. Both the individual and institutional investors can buy the 3-year bonds.