Latest News
China to sell first dollar bond in 13 years on Thursday
Last Updated: 2017-10-26 08:44 | Xinhua
 Save  Print   E-mail

China will issue 2 billion U.S. dollars worth of dollar-denominated sovereign bonds on Thursday, China's Ministry of Finance (MOF) said here on Wednesday.

China will issue the sovereign bonds in the Hong Kong Special Administrative Region (HKSAR), including 1 billion U.S. dollars of five-year bonds and 1 billion U.S. dollars of 10-year bonds, according to a roadshow held here on Wednesday.

Raising funds was not the main purpose of this issuance, but it will help guide markets and evaluate prospects in the future, said Wang Yi, director of the finance department of the Ministry of Finance.

The outstanding sovereign external debt of China stood at 18.1 billion U.S. dollars at the end of 2016, accounting for 1.06 percent of its national debt and far below the international average, according to the ministry.

The HKSAR government is planning to expand profits tax exemption to dollar-denominated sovereign bonds issued by the central government, said Chan Mo-po, financial secretary of the HKSAR government.

Norman Chan, chief executive of the Hong Kong Monetary Authority, said the MOF's choice to issue this U.S. dollar sovereign bond to international investors in Hong Kong highlights the status of Hong Kong as a premier international financial center in Asia, as well as Hong Kong's strategic position as the natural gateway linking the mainland to the world.

The previous such sales were made in October 2004, when the country raised a total of 1.7 billion U.S. dollars by issuing dollar- and euro-denominated bonds with maturities of five and 10 years.

Share to 
Related Articles:
Most Popular
Chinese | BIG5 | Deutsch
Xinhuanet | | People's Daily Online | | CNTV | | Global Times | | China Youth International | Visit Beijing |
About | About the Economic Daily | Contact us
Copyright 2003-2015 China Economic Net. All right reserved