Bond issue seeks to lure forex

Ministry of Finance says $2 billion offering due in Hong Kong soon

The Chinese mainland will soon issue $2 billion in US dollar-denominated sovereign bonds in Hong Kong, the Ministry of Finance announced on Wednesday, a move to encourage foreign exchange to flow into the onshore market amid a further opening of the financial sector.

The issuance will consist of $1 billion five-year bonds and $1 billion with 10-year maturity, the ministry said. The bonds will be traded on Hong Kong Exchanges and Clearing Ltd, while the issue date will be disclosed later.