Signage for Manulife Financial Corp. atop a building in Hong Kong, China, on Friday, Aug. 2, 2024. Hong Kong is seeing an influx of professionals from mainland China’s finance and tech sectors who are disillusioned with their career and salary prospects across the border. Many are trying to make a living and stay in the city by peddling insurance products, giving a boost to a once-sleepy industry. Photographer: Lam Yik/Bloomberg
HONG KONG: The Shenzhen municipal government in Guangdong province will issue offshore yuan-denominated bonds in Hong Kong for the fourth time since 2021, further bolstering Hong Kong-Shenzhen financial collaboration by encouraging more mainland governments and corporate issuers to tap Hong Kong’s fund-raising platform for channelling capital to promote regional development.
The bond issuance amount will be up to seven billion yuan or about US$980mil, with maturities of two years, three years, five years and 10 years, with the bulk being social-responsibility bonds, low-carbon city-themed green bonds and sustainable-development bonds.
