Hainan to Issue 5b yuan offshore bonds in HK

The Hainan provincial government plans to issue up to 5 billion yuan (HK$5.46 billion) in offshore yuan-denominated local government bonds in Hong Kong this month, the fourth consecutive year the island province has issued debt in the city.

According to an announcement on the Department of Finance of Hainan Province's official WeChat account, the bonds will have tenors of 3, 5, and 10 years. The 3-year tranche is designated as a sustainability bond, the 5-year as a blue bond, and the 10-year as a space-themed bond. This issuance aims to provide international investors with more choices for allocating yuan assets.

The bonds will be listed on the Hong Kong Stock Exchange. The raised funds will be primarily allocated to key scientific research and infrastructure projects in marine protection, social welfare, and the aerospace sector.