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China meets target of issuing 20 bln yuan in T-bonds in HK

(Xinhua)

14:06, September 01, 2011

BEIJING, Sept. 1 (Xinhua) -- The Ministry of Finance said Thursday that it has met its target of issuing 20 billion yuan (3.13 billion U.S. dollars) in yuan-denominated treasury bonds in Hong Kong this year, after the last 5 billion yuan in bonds were sold on Wednesday.

The two-year treasury bonds sold on Wednesday, with an annual interest rate of 1.6 percent, were sold to individual investors. Interest will be paid on the bonds every six months, according to a statement on the ministry's website.

Hong Kong investors showed strong enthusiasm for the bonds, with subscriptions totaling 20.18 billion yuan. Their enthusiasm reflects investors' overall confidence in the mainland's robust economic growth, the statement said.

The ministry previously issued 15 billion yuan in treasury bonds to institutional investors last month.

The issuance of yuan-denominated bonds in Hong Kong demonstrates the central government's determination to bolster the city's role as an international financial hub, the statement said.

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