China to issue RMB6b sovereign bonds in Macau

China’s Ministry of Finance will issue RMB6 billion (USD830 million) in sovereign bonds to professional investors in Macau on July 16, officials announced yesterday. The announcement, made jointly with the MSAR government, aims to strengthen Macau’s bond market and foster new financial sectors. The local government says the continued issuance of RMB-denominated bonds highlights Beijing’s commitment to Macau’s economic diversification and financial cooperation with the mainland. The initiative is expected to attract international investors and boost the offshore renminbi market. The MSAR government expressed gratitude for the central government’s ongoing support.
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