Central government to issue RMB8bln sovereign bonds

The issuance is expected to further develop offshore renminbi business by enlarging the scale of the renminbi bond market in Hong Kong.

RMB5 billion worth of the bonds will be issued to institutional investors while the other RMB3 billion worth of bonds will be issued to individual investors.

The ministry's Finance Department Director-General Sun Ziaoxia and Hong Kong Monetary Authority Deputy Chief Executive Eddie Yue signed the Memorandum of Co-operation on Using Central Moneymarkets Unit for Issuance of Renminbi Sovereign Bonds.

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