Get ready for more dim sum bonds in Hong Kong
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clpstaff &clp articlesThe NDRC has released a Circular to develop Hong Kong's offshore RMB market a week after approving new dim sum bonds for four state-owned firms
On April 24, China's top economic planning agency, the National Development and Reform Commission (NDRC) announced its approval for four state-owned firms to offer renminbi bonds in the Hong Kong market.
Three power companies and a mining company – China Minmetals, Guangdong Nuclear Power, Huaneng Power and Datong Power can offer Rmb18.5 billion ($2.93 billion) in bonds. Previously, only one state-owned non-financial institution, Baosteel Group, had been given approval to issue dim sum bonds in October last year.
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