China's finance ministry issues 8 bln yuan treasury bonds in HK

BEIJING -- China's Ministry of Finance (MOF) issued yuan-denominated treasury bonds worth of 8 billion yuan (about $1.24 billion) in Hong Kong on Thursday.

The issuance included 5 billion yuan of two-year bonds, 2 billion yuan of five-year bonds and 1 billion yuan of 10-year bonds.

A total of 20 billion yuan of yuan-denominated treasury bonds will be issued in Hong Kong this year, the ministry said.

The MOF started selling yuan-denominated treasury bonds in Hong Kong in 2009. As of the end of August, the value of yuan-denominated treasury bonds issued by the ministry in Hong Kong reached 218 billion yuan, official data shows.

"This has supported the development of offshore yuan business and consolidated Hong Kong's position as an international finance center and the biggest offshore RMB settlement center," the ministry said.