日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Govt to offer 6b yuan in bond issue

Updated: 2009-09-29 08:01

(HK Edition)

  Print Mail Large Medium  Small

HONG KONG: The central government is launching a sale of 6 billion yuan ($879 million) worth of bonds in Hong Kong, offering a higher coupon than available on the mainland to ensure the success of its first such issuance in the city.

The Ministry of Finance plans to sell five-year bonds with 3.30 percent coupon, three-year securities at 2.70 percent and two-year debt at 2.25 percent, according to a press release by the Bank of Communications Ltd and Bank of China Ltd, the lead managers. Similar yields on the mainland market at the end of last week were 2.94, 2.31 and 1.82, respectively.

"I believe the safer and more stable yuan bonds will be popular among Hong Kong investors," Vice Finance Minister Li Yong said in a ceremony that started the sale. "I believe the yuan bond market will continue to develop and it will develop very quickly."

The government said this month that the debt sale is designed to help elevate the "international status" of the yuan, after Premier Wen Jiabao said in March that he is worried about the prospects for the dollar as a reserve currency. Speculation that the yuan will appreciate prompted deposits at the city's banks to rise to 56 billion yuan at the end of July, the most this year.

"There's a local pool of yuan savings and the city's people expect the yuan to appreciate; so it's natural to have demand here," said Dariusz Kowalczyk, chief investment strategist at SJS Markets Ltd in Hong Kong.

The result of the sale will be announced on October 22, with the issue date set for October 27.

"We were very cautious about pricing," Li said. "We took into consideration all factors to decide the interest rates and the quantity of debt to sell. It will have very limited impact on the overall yuan bond market."

At least 2 billion yuan of two- and three-year notes will be sold to individual investors in denominations of 10,000 yuan, according to the ministry. The five-year debt will be offered only to institutional funds.

Government debt may prove popular after the failure of Lehman Brothers Holdings Inc a year ago led to losses on so-called minibonds that were backed by the US bank, said Tse Kwok Leung, head of economic research at the Bank of China's Hong Kong branch. The yields compared with the 0.8 percent interest on offer for one-year Hong Kong dollar deposits in the city.

Bank of East Asia Ltd and HSBC Holdings Plc's mainland unit have sold yuan bonds in Hong Kong this year. Two-year notes issued by HSBC, Europe's biggest bank, yielded 2.55 percent at the end of last week, according to data from the Treasury Markets Association.

The People's Bank of China in July approved a trial program for the currency to be used to settle cross-border trade with Hong Kong.

Bloomberg News

(HK Edition 09/29/2009 page4)

主站蜘蛛池模板: 第九区2中文字幕 | 久久激情网站 | 91羞羞网站 | 天干夜天干天天天爽视频 | 国产三级视频在线播放 | 成人亚洲精品 | 四虎综合 | 日韩欧美中文字幕一区二区三区 | 三区四区在线观看 | 国内自拍视频在线播放 | 国产视频久久久久久久 | 人人舔人人干 | 91精品国产乱码久久 | 亚洲唯美 | 激情小视频在线观看 | 午夜一级黄色片 | 四虎影院最新地址 | 国产十区 | 日韩在线视频免费观看 | 小黄文在线 | 国产精品久久成人免费观看 | 国产一区二区三区影院 | 永久久久久久 | 久久黄色网| 成人一区二区三区四区 | 成人福利在线播放 | 可以免费看毛片的网站 | 一区二区三区四区在线观看视频 | 日本一区二区在线播放 | 草草影院国产第一页 | 久久尤物视频 | 一本大道av | 在线观看视频国产 | 天堂综合 | 欧美国产精品一区 | 色婷在线 | 西西午夜视频 | 欧美无砖区 | 日韩小视频在线 | 福利视频在线看 | 日本黄xxxxxxxxx100 |