China’s Ministry of Finance listed RMB 6 billion worth of government bonds on the Chongwa (Macao) Financial Asset Exchange (MOX) yesterday.
This marks the fifth consecutive year that the Ministry of Finance (MOF) has issued RMB bonds in Macau and chosen MOX as its platform.
The bonds were distributed across three maturities: two-year, five-year, and, for the first time, a 10-year maturity, raising RMB3 billion, RMB2 billion, and RMB1 billion, respectively.
Coupon rates were set at 1.43%, 1.55%, and 1.72%, respectively.
Demand soared, with a record subscription multiple of 6.08, marking a record-breaking event for Macau’s growing offshore bond market.
MOX said in a statement, “This issuance not only broke the historical record for a single bond scale in Macau, but also introduced 10-year RMB long-term bonds for the first time. It has systematically promoted the high-quality development of the Macau bond market on multiple fronts.”
MOX, established in 2018, has played a strategic role in positioning Macau as a regional offshore RMB hub, supporting Beijing’s vision to diversify the city’s economy beyond gaming.
As Macau’s main financial asset exchange, MOX stated it is focused on “building a multi-level product system, expanding its international investor network, and providing platform support to promote the internationalization of the RMB.” NS
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