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HK gov't welcomes issue of renminbi sovereign bonds

(Xinhua)
Updated: 2009-09-08 13:53

The government of the Hong Kong Special Administrative Region (HKSAR) Tuesday welcomed the issue of renminbi sovereign bonds in Hong Kong by the central government.

The Chinese Ministry of Finance announced Tuesday that the central government will issue renminbi sovereign bonds totaling 6 billion yuan in Hong Kong on September 28, 2009.

Related readings:  Govt eyes $12.9b in sovereign bonds by September  China to conclude 200b yuan local government bond sales

An HKSAR government spokesman said the move clearly demonstrated the central government's support for Hong Kong as an international financial center to further develop renminbi business and illustrates the interactive, complementary and cooperative relationship between the financial systems of the mainland and Hong Kong.

The spokesman added that the issue of renminbi sovereign bonds was a new milestone for the development of renmibi business in Hong Kong. It will also enhance financial cooperation between the mainland and Hong Kong.