China News Service, Hong Kong, November 11th. The Hong Kong Special Administrative Region Government announced on the 11th that it will launch a new batch of silver bonds for Hong Kong residents who are 65 years of age or above to subscribe. At 3.5%.
This is the fifth batch of silver bonds launched by the Hong Kong Special Administrative Region government. The target issuance amount will be increased from 3 billion yuan to 10 billion yuan in the past, and the SAR government may increase it to a maximum of 15 billion yuan at its discretion depending on market reaction.
According to reports, the term of this batch of silver bonds is 3 years, and bondholders will receive interest linked to local inflation once every 6 months, but the interest rate will not be less than 3.5%.
There is no secondary market for silver bonds.
If investors need to cash out the bonds before maturity, the SAR government will redeem the bonds at the original price and corresponding accumulated interest.
In order to prevent retail bonds from being over-concentrated by a small number of investors, this silver bond issuance has set a maximum allotment amount of 1 million yuan per investor, that is, each investor can only be allotted 100 lots of bonds.
The Financial Secretary of the Hong Kong Special Administrative Region Government announced in the 2020-21 Budget that silver bonds will continue to be issued this year to provide older residents with more suitable investment products and encourage the financial industry to continue to develop the silver market.
A spokesperson for the SAR government said that in the current financial market environment of persistently low interest rates and uncertainties, the issuance of silver bonds can provide elderly residents with a stable return on investment products to help them effectively manage their retirement capital.
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