The Ministry of Finance(MOF) will sell the biggest batch of yuan-denominated bonds it has offered in Hong Kong in a bid to boost enthusiasm among investors.

The MOF said on Monday it will issue 28 billion yuan ($4.48 billion) in offshore yuan bonds this year, the highest level since the issuer first tapped the so-called dim sum market in 2009.

In 2013, the MOF issued only 23 billion yuan-worth of bonds in Hong Kong. This year's jumbo-sized issuance comes as the former British colony's offshore market has been hit by sharp currency volatility and as authorities have moved to promote use of the Chinese currency in Europe and Asia.

Even before the MOF's announcement of its plan, the overall dim sum market had been buoyant. In the first three months of 2014, about 125 billion yuan in bonds were issued, a record for any quarter. In the last quarter of 2013, issuance was 53 billion yuan.

China is increasing the efforts to expand the footprint of its currency and opening up more channels for cross-border fund flows, in order to lift the global status of the yuan so it can match China's position as the world's second-largest economy.

The country's securities market regulator said this month it would allow cross-border stock investment between Shanghai and Hong Kong, another step toward opening China's capital account.

The first batch of the MOF's 2014 bonds, worth 16 billion yuan, will be sold on May 21 to institutional investors, foreign central banks and regional monetary authorities. The rest will be offered to institutional investors and Hong Kong residents in the second half of 2014.

Demand from institutional investors is expected to be robust as there is a lack of high-quality instruments in the offshore yuan market.

Foreign central banks have also been active buyers of high-quality dim sum bonds as they try to diversify their reserve portfolios. In 2013, when the MOF sold dim sum bonds, about eight central banks participated, including ones from Asia, South America and Africa.

The MOF is the biggest and most prolific player in the primary market of dim sum bonds and its bond sales are a much-awaited event among investors as it sets the tone for other issuers. This year's sales will make its issuance since 2009 top 108 billion yuan.

Yuan payments rose in value by 29 percent in March from a month earlier, global transaction services organization SWIFT said on Monday.