Financial Secretary Paul Chan today welcomed the Ministry of Finance’s plan to issue RMB5 billion in sovereign bonds Hong Kong this week.

The move came after the ministry announced it intended to supply sovereign bonds totalling RMB15 billion outside the Mainland this year.

Mr Chan noted this is the 11th consecutive year the ministry has circulated RMB sovereign bonds in Hong Kong.

“This demonstrates clearly the Central Government's support in reinforcing Hong Kong's status as the global offshore RMB business hub, and is conducive to the development of the bond market in Hong Kong."