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People's Daily Online>>China Business

Planner approves bonds issue

By Feng Jianmin (Shanghai Daily)

09:47, January 12, 2012

CHINA'S top planner, the National Development and Reform Commission, has allowed 10 financial institutions to issue yuan bonds in Hong Kong to raise a combined 25 billion yuan (US$3.95 billion).

The Chinese mainland subsidiaries of HSBC and Bank of East Asia, China's five largest state-owned banks and the country's three policy banks including China Development Bank have won the go-ahead, the planner said yesterday.

Liu Jie, a strategist with HSBC told Reuters it was the first time the authority had publicized the amount and issuers of the bonds, and this would help market transparency.

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