HONG KONG, June 26 (Xinhua) -- China's Hong Kong Special Administrative Region (HKSAR) government on Tuesday welcomed the Ministry of Finance's plan to issue Renminbi (RMB) sovereign bonds in Hong Kong for the 10th consecutive year.
Paul Chan, the financial secretary of the HKSAR government, said that the ministry's move demonstrates clearly the central government's support in reinforcing Hong Kong's status as the global offshore RMB business hub and is conducive to the development of the bond market in Hong Kong.
The Ministry of Finance announced Tuesday its plan to issue RMB sovereign bonds totalling 10 billion yuan (about 1.51 billion U.S. dollars) in Hong Kong this year, of which 5 billion yuan will be issued in the first half of the year and the remaining 5 billion yuan will be issued in the second half of the year.
The ministry also announced its plan to issue U.S. dollar sovereign bonds outside the mainland totalling 3 billion U.S. dollars in the second half of the year. Details will be announced later. (1 U.S. dollar = 6.58 yuan)