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RMB stock trading backed

Secretary for Financial Services & the Treasury Christopher Hui today expressed his gratitude to various listed issuers in Hong Kong for their support to the proposal of setting up a renminbi (RMB) stock trading counter.   Mr Hui stated that further to the help rendered by the Legislative Council Panel on Financial Affairs regarding the Government's proposed measures to promote the issuance and trading of RMB stocks in Hong Kong and enhance the trading mechanism, a number of listed issuers have also backed the proposal.   Such listed issuers will actively explore the feasibility of setting up a new RMB trading counter for their issued shares.   Mr Hui explained that listed issuers who indicated their support today include Hang Seng Index constituent stocks with promising turnover.   “Their participation is a vote of confidence to the development of RMB securities in Hong Kong, which will be conducive to our promotion work to other issuers, enabling Hong Kong to graduall

Green bond issuance successful

The Government today announced the successful offering of RMB5 billion offshore renminbi green bonds under the Government Green Bond Programme.   This is the Government's inaugural offering of renminbi-denominated bonds. The offering comprises two tranches of RMB2.5 billion three-year and RMB2.5 billion five-year.   The green bonds saw strong demand from diversified group of investors despite recent market volatility, and 54% of the issuance size was distributed to banks, 35% to fund managers, private banks and insurance companies, and 11% to supranationals, official institutions and corporates.   Financial Secretary Paul Chan said this landmark offering by the Government further enriches the range of offshore renminbi financial products available in Hong Kong, consolidates the city's role as the premier offshore renminbi centre and contributes to promoting the internationalisation of the renminbi.   Mr Chan explained that the offering also strengthens the Hong Kong platform to better serve renminbi issuers who raise green financing in support of low carbon transition efforts.   “Together with the US dollar and euro-denominated green bond offerings last week, it demonstrates our continued commitment to further develop the green bond market through piloting issuances with different parameters,” he added.   The green bonds are expected to be settled on November 30 and listed on the Hong Kong Stock Exchange and the London Stock Exchange.   Proceeds raised under the programme will be used to fund projects that will improve the environment and facilitate the transition to a low carbon economy.
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