HKSAR gov't welcomes issuance of bonds in Hong Kong by Guangdong province

6/9/2024 6:16

        The Hong Kong Special Administrative Region (HKSAR) government welcomed the People's Government of Guangdong Province's announcement on Thursday that they will issue offshore Chinese yuan (CNY) local government bonds in Hong Kong, which will be listed on the Stock Exchange of Hong Kong.
        Guangdong Province will issue the bonds not exceeding 5 billion yuan this month. The bonds will be issued in two-year tenor, three-year tenor and five-year tenor.
        John Lee, chief executive of the HKSAR, said that the HKSAR government welcomed the issuance of the bonds by the People's Government of Guangdong Province through Hong Kong's financing platform for the first time.
        Fully demonstrating Hong Kong's significant strengths in issuing yuan debt products, this bond issuance also further consolidates Hong Kong's position as a global offshore CNY business hub, contributes to the prudent and solid advancement of CNY internationalization, and enables the Guangdong-Hong Kong-Macao Greater Bay Area to better serve as the momentum for high-quality development, Lee said.