RMB treasury bonds to be issued in HK

BEIJING - China will issue renminbi treasury bonds worth 28 billion yuan ($4.58 billion) in Hong Kong this year, the finance ministry announced on Tuesday.

The treasury bonds will be issued in two batches, with the first batch worth 14 billion yuan going on sale on May 20 to institutional investors, foreign central banks and regional monetary watchdogs, according to a statement on the Ministry of Finance website.

The other half will be sold to institutional investors and Hong Kong residents later this year.

All the renminbi treasury bonds will be traded on the Hong Kong Stock Exchange, the statement said.

Chinese mainland started issuing yuan-denominated treasury bonds in Hong Kong in 2009 to facilitate the globalization of the Chinese yuan.