Monday, September 28, 2009

Yuan Bonds Issued in Hong Kong

Beijing sells 1st yuan bonds in Hong Kong

BEIJING (AP) - Beijing sold government bonds denominated in the mainland's yuan for the first time Monday in Hong Kong, adding to gradual moves to expand the international use of its tightly controlled currency.

Bonds from the 6 billion yuan ($875 million) issue were on sale to the public at Hong Kong banks. There was no immediate word on how well they were selling and how many were allocated to institutional investors...

...Monday's sale should increase the private sector use of the yuan, according to finance analysts."