China simplifies bond issuance in Hong Kong for domestic institutions

[HONG KONG] China's central bank said on Tuesday (Dec 28) that the procedures for domestic financial institutions to issue bonds in Hong Kong would be simplified and optimised, in a move it said reflected the country's improved foreign debt management.

The current rules that regulate financial institutions to issue yuan bonds in Hong Kong are outdated and have now been scrapped, the People's Bank of China said in a statement.

Domestic financial insitutions going to Hong Kong or other countries to issue bonds in local or foreign currencies will be simpler and easier, the central bank added.

REUTERS