MOF to Issue 5 Billion Yuan in Renminbi Treasury Bonds via Hong Kong on 10 August

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The Ministry of Finance (MOF) will issue a second round of renminbi-denominated treasury bonds in the offshore market via Hong Kong for 2022.

On 4 August the Hong Kong Monetary Authority (HKMA) announced that MOF will issue 1 billion yuan in 10-year renminbi treasury bonds and 4 billion yuan in 2-year renminbi treasury bonds on 10 August in Hong Kong via auction.

On 6 June of this year MOF announced that the State Council had approved the issuance of 23 billion yuan in renminbi treasury bond issues in 2022, via four rounds worth 7.5 billion yuan, 5 billion yuan, 5.5 billion yuan and 5 billion yuan respectively.

MOF issued 7.5 billion yuan in its first round of renminbi treasury bonds via Hong Kong on 15 June. This included 2.5 billion yuan in 2-year bonds, that had a rate of 2.44% and were 4.04 times overscribed; 2.5 billion yuan in 3-year bonds, that had a rate of 2.55% and were 4.64 times oversubscribed; and 2.5 billion yuan in 5-year bonds, that had a rate of 2.75% and were 5.09 times oversubscribed.