Yuan bond issue to back HK economy
Source: Xinhua |
June 15, 2012, Friday
|
Print Edition
Print Edition
THE Ministry of Finance said yesterday it will issue 23 billion yuan (US$3.64 billion) in yuan-denominated treasury bonds in Hong Kong in June as part of the central government's efforts to support Hong Kong's economy.
The issuance will be the fourth and largest of its kind in four consecutive years, following the sale of 6 billion yuan in yuan-denominated treasury bonds in 2009, 8 billion yuan in 2010 and 20 billion yuan in 2011.
"The central government continued to expand the scale of yuan-denominated treasury bond issuances this year, showing its support for the prosperity of Hong Kong's economy and society," the ministry said in a statement.
The move will deepen fiscal and financial cooperation between the mainland and Hong Kong, as well as improve infrastructure and the development of the Hong Kong bond market, the ministry said.
Of the total, 15.5 billion yuan will be sold to institutional investors, with their maturities ranging from three, five or seven years to 10 or 15 years.
Meanwhile, 5.5 billion yuan will be for individual investors with a maturity of two years, and 2 billion yuan will be issued to foreign central banks, the ministry noted.
The issuance will be the fourth and largest of its kind in four consecutive years, following the sale of 6 billion yuan in yuan-denominated treasury bonds in 2009, 8 billion yuan in 2010 and 20 billion yuan in 2011.
"The central government continued to expand the scale of yuan-denominated treasury bond issuances this year, showing its support for the prosperity of Hong Kong's economy and society," the ministry said in a statement.
The move will deepen fiscal and financial cooperation between the mainland and Hong Kong, as well as improve infrastructure and the development of the Hong Kong bond market, the ministry said.
Of the total, 15.5 billion yuan will be sold to institutional investors, with their maturities ranging from three, five or seven years to 10 or 15 years.
Meanwhile, 5.5 billion yuan will be for individual investors with a maturity of two years, and 2 billion yuan will be issued to foreign central banks, the ministry noted.
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