Guangdong to join ‘dim sum’ bond feast with US$1 billion sale in Hong Kong, Macau

Quick Summary:

Province’s move follows Shenzhen’s announcement of a US$964.4 million sale of offshore yuan-denominated bonds as China pushes to internationalise its currency and boost Hong Kong’s hub role.

HKMA CEO Eddie Yue Wai-man said in his reappointment statement last week that the city’s de facto central bank will focus on strengthening Hong Kong’s role as the global offshore yuan hub.

The city’s southbound Bond Connect, which has been trading since September 2021, has also contributed to the growth of Hong Kong’s offshore yuan bond market.

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Article Details

Author / Journalist: Jiaxing Li

Category: Business

Markets: Hong KongChinaFranceJapanMacau

Topics: Kong Yuan Last Cent China’s Offshore Billion Bonds Hong Bond Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-30 @ 16:00:20 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 657 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21851257

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