China's ministry of finance to issue 28b yuan treasury bonds in HK

BEIJING - China's ministry of finance said it will issue yuan-denominated treasury bonds worth 28 billion yuan ($4.25 billion) this year in Hong Kong.

The first batch, worth 14 billion yuan, is scheduled to be issued on June 29 to institutional investors, and the other 14 billion yuan will be sold some time in the second half of the year, the ministry said.

After the issue, the bonds will be traded on the Hong Kong Stock Exchange.

The ministry of finance started selling yuan-denominated treasury bonds in Hong Kong in September 2009 to boost the region's economy and speed up the expansion of offshore yuan business.