November 22, 2017 / 5:17 AM / 24 days ago

China to sell 7 bln yuan dim sum bonds in Hong Kong next week

HONG KONG, Nov 22 (Reuters) - China’s Ministry of Finance said on Wednesday it planned to sell 7 billion yuan ($1.06 billion) dim sum bonds in Hong Kong next week.

The finance ministry has issued dim sum bonds in Hong Kong annually since 2009 to boost the development of the offshore market. It sold the first batch of this year’s offshore yuan bonds, worth 7 billion yuan, in June.

The second batch will be sold to institutional investors, foreign central banks and monetary authorities, the finance ministry said in a statement on its website.

It has not specified the tenor or the exact date of issuance.

$1 = 6.6200 Chinese yuan Reporting by Michelle Chen; Editing by Sherry Jacob-Phillips

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