Long-term bond issue mechanism explored

The central government will study a long-term mechanism for non-renminbi sovereign bond issues as an important step to further internationalize the domestic capital market, said Shi Yaobin, China's vice-minister of finance, during a media briefing on Friday in Hong Kong.

His words came after China's sovereign dollar bond received an overwhelming welcome in the city, with demand for the sovereign notes climbing to 11 times the offering size and pricing coming in under initial guidance.

It is the first time in the past 13 years that the Chinese central government has issued US dollar-denominated sovereign bonds.