综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

CDB to issue 3 billion yuan-denominated bonds

Updated: 2010-10-19 07:01

By Oswald Chen(HK Edition)

  Print Mail Large Medium  Small

State-owned China Development Bank Corporation (CDB) said Monday it is to issue 3 billion yuan of fixed-rate bonds to retail subscribers in Hong Kong. The offering will last from October 19 to November 5.

The denomination of the bond will be 10,000 yuan with a tenor of three years. The fixed rate bonds will bear a coupon interest of 2.7 percent per annum payable semi-annually.

CDB already issued 2 billion yuan-denominated floating rate bonds to institutional investors last week.

This is also the third time CDB has conducted a public offering of yuan-denominated fixed rate bonds in Hong Kong since China's central bank permitted mainland financial institutions to issue them in July 2007. CDB previously issued yuan-denominated bonds in the city in 2007 and 2009. In the latter issue of 3 billion yuan, 1 billion yuan was issued as a floating-rate bond.

The joint lead managers for the bond issuance were Bank of China (Hong Kong), the HSBC and Standard Chartered Bank (Hong Kong).

CDB Executive Vice President Gao Jian said that CDB's bond issuance will both satisfy market demand and further strengthen the role of Hong Kong as a yuan offshore center.

As it was the second time that CDB has conducted an offering of floating rate yuan-denominated notes in the city, Gao said that it will enhance the pricing mechanism and product choices of yuan-denominated bonds in Hong Kong.

Standard Chartered Bank (Hong Kong) issued a statement that said the issuance of floating rate yuan-denominated bonds will help establish the formation of yield curves, another factor in developing a price mechanism.

Concerning the investment potential of bonds, Harris Fraser investment research director Andy Lam said that they are relatively more attractive than the yuan-denominated insurance products as the yield return is higher and the holding period of the bonds is relatively shorter.

"Yuan bond investment can yield more stable returns while the appreciation trend of the yuan currency is predictable, so these two combined features can minimize the investment risks for retail investors," Lam said.

"However, the secondary market for yuan-denominated bonds is not well developed, so the illiquidity of the yuan-denominated bond market means that when retail investors cannot hold these bonds to maturity, they have to suffer a larger bid-ask spread than when they try to sell those bonds in the secondary market," Lam added.

Lam said that more yuan-denominated financial products, such as mutual funds and stock trading may also appear in the city in the future so retail investors should not make a heavy bet on yuan-denominated bonds alone.

China Daily

(HK Edition 10/19/2010 page2)

怀集县| 偃师市| 那坡县| 雅江县| 琼中| 安阳市| 承德市| 建瓯市| 德庆县| 米脂县| 泉州市| 宁乡县| 聂荣县| 双桥区| 色达县| 平昌县| 昌邑市| 进贤县| 青阳县| 井陉县| 石屏县| 兴业县| 石台县| 岚皋县| 曲沃县| 绵阳市| 扎兰屯市| 富源县| 运城市| 施甸县| 女性| 如东县| 福州市| 揭西县| 海南省| 沙洋县| 隆尧县| 出国| 潮州市| 晋江市| 开远市|