Year-ender: major financial events of 2020
China issues 4b euro-denominated bonds of negative yield for the first time
On Nov 18, Ministry of Finance has successfully issued 4 billion euro-denominated sovereign bonds with three tranches, comprising five-year bonds, 10-year bonds and 15-year bonds amounting to 750 million euros, 2 billion euros and 1.25 billion euros, respectively, according to the ministry's website.
The five-year tranche achieved a negative yield of -0.152 percent for the first time.
S&P Global Ratings and Fitch ratings both granted the bond an A+ rating, showing China's sovereign bonds are safer and less risky for foreign investors.
The issuance reflects China's determination and confidence to open up at a higher level in an all-round way, and would strengthen the internationalization of Chinese currency.
