7b yuan of treasury bonds to be issued in HK

BEIJING - China's Ministry of Finance (MOF) said Wednesday that it will issue yuan-denominated treasury bonds worth 7 billion yuan ($1.06 billion) in Hong Kong next week.

The bonds will be sold via the bond-tendering platform of Hong Kong's Central Moneymarkets Unit (CMU) to institutional investors, foreign central banks and regional monetary authorities in the week starting Nov 27, said the ministry.

This is the second round of yuan-denominated treasury bonds to be issued by the MOF in Hong Kong this year. The first, also worth 7 billion yuan, was issued in June.

The specific date and other details will be released before the issuance, the MOF said.

The treasury bonds will be listed and traded at the Stock Exchange of Hong Kong after the official launch.

The MOF started selling yuan-denominated treasury bonds in Hong Kong in September 2009 to boost the region's economy and speed up the expansion of offshore yuan business.