Hong Kong to issue RMB28b in sovereign bonds

First batch out on 21 May.

The Ministry of Finance announced today its plan to issue sovereign bonds totalling RMB28 billion in Hong Kong this year.

Financial Secretary John Tsang welcomed the move.

"This demonstrates clearly the Central Government's support in developing Hong Kong as an offshore renminbi business centre. It would also be conducive to the Government's objective to develop Hong Kong's bond market," he said.

The first batch of bonds worth RMB16 billion will be issued to institutional investors, overseas Central Banks and monetary authorities on May 21.

The second batch worth RMB12 billion will be issued to institutional investors and Hong Kong residents in the second half of the year.