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FOUNDER & PUBLISHER Kowie Geldenhuys
EDITOR-IN-CHIEF Paulo Coutinho
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Home›Headlines›Guangdong to issue RMB2.5b in offshore bonds in Macau
Finance

Guangdong to issue RMB2.5b in offshore bonds in Macau

By -
Thursday, August 1, 2024
181
0

In a move to further integrate the Guangdong-Hong Kong-Macau Greater Bay Area, Guangdong’s Department of Finance plans to issue offshore yuan-denominated bonds worth up to 2.5 billion yuan in Macau and an additional 5 billion yuan in Hong Kong, according to a report by the South China Morning Post.

This will be Guangdong’s fourth issuance of so-called “dim sum” bonds in Macau, but the first time the provincial government has issued them in Hong Kong.

The upcoming five-year bonds are aimed at “further promoting the integrated development of the Greater Bay Area,” the authority said in a notice released earlier this week.

Guangdong is not the only Chinese region tapping the offshore yuan bond market.

Both the Shenzhen municipal government and the Hainan provincial government have also recently issued dim sum bonds in Hong Kong, while the central government issued five-billion-yuan worth of sovereign bonds in Macau last September.

The move to issue more offshore yuan bonds in Macau and Hong Kong is part of China’s broader efforts to develop the Greater Bay Area. LV

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