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.

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.

The first offshore yuan bond was issued in Hong Kong in 2007, promoting the city as the largest offshore yuan centre outside mainland China.

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Article Details

Author / Journalist: Jiaxing Li

Category: Business

Markets: Hong KongChinaFranceJapanMacau

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

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-30 @ 16:00:20 (3 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 771 words

Reading Time: 5 minutes read

Sentences: 25 lines

Sentence Length: 31 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 21897203

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