Today (15th), the Ministry of Finance issued the first 7.5 billion yuan of government bonds in 2022 in the Hong Kong Special Administrative Region, including 2.5 billion yuan each with 2-year, 3-year and 5-year terms.
It is understood that throughout this year, the Ministry of Finance will issue a total of 23 billion yuan of renminbi government bonds in the Hong Kong Special Administrative Region.
It is understood that the 7.5 billion yuan treasury bonds issued this time will be issued to institutional investors through the Central Clearing System of Debt Instruments of the Hong Kong Monetary Authority.
After the issuance of RMB government bonds, it will be listed and traded on the Hong Kong Stock Exchange.
According to industry insiders, this year the Ministry of Finance will issue a total of 23 billion yuan of renminbi government bonds in Hong Kong in four phases, one phase more than last year.
(Shenzhen) Liu Jie, Head of China Macro Strategy of the Global Research Department of Standard Chartered Bank: Every year, there are actually new breakthroughs based on market changes, which make the liquidity of offshore RMB treasury bonds more obvious. improvement.
This is very attractive to offshore investors and overseas investors.
(Shanghai) Bank of Communications Business Director Tu Hong: Judging from the previous issuance of treasury bonds, it has been widely welcomed by international investors.
Including central banks, commercial banks, funds, asset management companies, insurance companies and international financial organizations in countries and regions in Asia, Europe, Africa, America, Oceania, etc., the bidding volume of each market issuance greatly exceeds the actual issuance.
It is understood that since 2009, the Ministry of Finance has continued to issue RMB sovereign bonds in Hong Kong to meet the investment needs of international investors for high-quality RMB assets.
As of the end of May this year, the cumulative issuance of RMB treasury bonds in Hong Kong reached 238 billion yuan
This year marks the 14th year that the Ministry of Finance has issued renminbi sovereign bonds in Hong Kong.
As of the end of May this year, a total of 238 billion yuan of government bonds had been issued in Hong Kong.
It is understood that the Ministry of Finance has issued RMB treasury bonds in Hong Kong for 14 consecutive years, and the issuance scale has grown steadily from 6 billion yuan in 2009 to a peak of 28 billion yuan.
With the change in the scale of offshore RMB, it has been maintained at around 20 billion yuan in recent years.
According to industry analysts, the 14-year continuous issuance has formed a long-term mechanism for the issuance of RMB treasury bonds in Hong Kong.
On the one hand, the maturity structure of treasury bonds is becoming more and more abundant. From the common ones with two-year, three-year, five-year maturity, the key ones are gradually increased, and a complete RMB bond yield curve has been initially formed.
On the other hand, the issuance mechanism has been continuously innovated. From the initial book-building method commonly used in the offshore RMB market, it has gradually explored methods such as tender issuance, listing, and directional issuance, which has played a good role in modelling other issuers.
Not only that, the continuous issuance of renminbi treasury bonds in Hong Kong has brought a large increase to Hong Kong's renminbi business and the business of Hong Kong's financial system, supporting the construction of Hong Kong's international financial center.