Home / Business / Finance

China to issue 2 billion USD-denominated sovereign bonds in HK

Xinhua | Updated: 2017-10-11 17:03

China to issue 2 billion USD-denominated sovereign bonds in HK

This file photo taken on Jan 30, 2011 shows US currency viewed in Manassas, Virgina. [Photo/VCG]

BEIJING - Chinese Ministry of Finance (MOF) said Wednesday it plans to issue US dollar-denominated sovereign bonds worth $2 billion in Hong Kong, the first such sale in 13 years.

The ministry is preparing to sell $1 billion worth of five-year notes and $1 billion in 10-year notes in the near future, the ministry said.

The specific date will be released ahead of the issuance, the MOF added.

This is the first time that the MOF will issue dollar-denominated sovereign bonds in Hong Kong, which will offer a pricing benchmark for mainland businesses' bond sales overseas, according to Shen Jianguang, chief economist with Mizuho Securities Asia Limited.

The sovereign bonds will be listed and traded at the Stock Exchange of Hong Kong Limited after the official launch.

This will also be China's first US-dollar sovereign bond sale since October 2004, when the country raised a total of $1.7 billion by issuing dollar- and euro-denominated bonds with maturities of five and ten years.

The Chinese currency, the yuan, has appreciated more than 5 percent against the US dollar since the beginning of the year.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349