Chinese central gov't to issue 3 bln yuan bonds in Macao SAR

MACAO -- The Chinese central government is scheduled to issue renminbi-denominated bonds with a face value of 3 billion yuan ($435 million) in the Macao Special Administrative Region (SAR) on Sept 7, the Macao SAR government said on Wednesday.
The issuance is a crucial initiative by the central government to continuously support Macao in developing modern finance and to facilitate the SAR's appropriate economic diversification, according to the notification issued by the Ministry of Finance and the Macao SAR government.
The move is aimed at offering a fresh investment option for professional investors, which will not only reinforce cooperation in financial services between the mainland and Macao, but also attract a greater number of bond issuers and international investors to participate in Macao's bond market development, said the notification.
The issuance of the renminbi bonds will also help revitalize Macao's offshore renminbi market and promote the progress of the internationalization of the renminbi as a currency, according to the notification.
- Beach of Fujiazhuang Park in Dalian attracts tourists to cool off
- Across China: Former site of CPC's first polytechnic institution for higher education opens to public
- China prosecutes 21 key members of telecom fraud crime group in northern Myanmar
- Cruising event held in Qingdao to celebrate 20th anniv. of establishment of Maritime Day of China
- China's Xizang launches first regular all-cargo air route
- Vice-premier urges continued efforts in China's flood control, disaster reduction