TAIPEI Dec 3 The Hong Kong branches of China
Construction Bank Corp and Bank of China
Ltd have applied to issue 2 billion yuan
($328 million) each in yuan-denominated bonds in Taiwan,
according to the island's bond exchange.
The move comes after Bank of Communications Co Ltd
and Agricultural Bank of China Ltd
sold "Formosa" bonds on Friday and
Saturday, respectively, via their Hong Kong branches - the first
Chinese banks to issue yuan bonds in Taiwan.
Bank of Communications issued three-year yuan bonds at a
yield of 3.4 percent, while Agricultural Bank of China sold
bonds of the same maturity at 3.3 percent.
Financial ties across the Taiwan Straits have strengthened
since early this year when China and Taiwan signed a yuan
($1 = 6.0929 Chinese yuan)
(Reporting by Clare Jim; Editing by Chris Gallagher)