China Allows Two Offshore Commercial Banks to Issue Bonds in Interbank Market
September 22 2015 - 7:52AM
Dow Jones News
BEIJING--China's central bank said Tuesday it gave the green
light to HSBC Holdings PLC (HSBC) and BOC Hong Kong (Holdings) Ltd.
(2388.HK) to issue yuan-denominated bonds in the nation's interbank
market, after Beijing vowed to further open the market to global
financial institutions.
HSBC got approval to issue 1 billion yuan ($156.86 million) of
bonds while the Hong Kong branch of Bank of China, the nation's
fourth-largest bank by assets, will be allowed to issue 10 billion
yuan, said the People's Bank of China in a statement on its
website.
The PBOC said it was the first time China allowed offshore
commercial banks to issue local-currency bonds in its domestic debt
market.
The move would "broaden international commercial banks' yuan
financing channels, boost opening of China's bond market as well as
the cross-border use of the yuan," said China's central bank in the
statement.
Write to Grace Zhu at grace.zhu@wsj.com
(END) Dow Jones Newswires
September 22, 2015 07:37 ET (11:37 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
BOC Hong Kong (PK) (USOTC:BHKLY)
Historical Stock Chart
From Jul 2024 to Aug 2024
BOC Hong Kong (PK) (USOTC:BHKLY)
Historical Stock Chart
From Aug 2023 to Aug 2024