China's finance ministry to issue 14b yuan in treasury bonds in HK

BEIJING - China's Ministry of Finance (MOF) said Tuesday it will issue yuan-denominated treasury bonds worth 14 billion yuan ($2.04 billion) in Hong Kong this week.

A total of 12 billion yuan in bonds will be sold to institutional investors in Hong Kong, while another 2 billion yuan will be issued to individual residents, according to the ministry.

After the issuance, the bonds will be traded on the Hong Kong Stock Exchange.

The issuance will bring bond sales to Hong Kong to 28 billion yuan this year. The first round of bonds worth 14 billion yuan was issued on June 29.

The ministry started selling yuan-denominated treasury bonds in Hong Kong in September 2009 to boost the region's economy and speed up the expansion of offshore yuan business.