The Shenzhen Municipal People’s Government will issue 1 billion yuan (1.2 billion patacas) in offshore renminbi-denominated municipal government bonds in Macau early this month, marking the second consecutive year of such an issuance in the Macao Special Administrative Region (MSAR), according to a statement by the Monetary Authority of Macao (AMCM) yesterday.
“Renminbi” (“people’s currency”) is the official name of the nation’s legal tender, informally known as “yuan”.
With the support of the Ministry of Finance (MOF), the three-year bonds will be sustainable bonds* themed around the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and offered exclusively to professional investors, the statement said.
Macau’s monetary regulator welcomed the issuance, saying it demonstrates support from the Central People’s Government and Shenzhen for Macau’s efforts to develop its bond market and promote the high-quality development of its financial sector, the statement noted, adding that the issuance would inject new momentum into Macau’s appropriate economic diversification.
Against the backdrop of the nation’s 15th Five-Year Plan and GBA development, the successive bond issuances are expected by AMCM to deepen financial cooperation between Shenzhen and Macau, and to broaden Macau’s range of green and sustainable finance products, the statement underlined.
According to the statement, the local government will continue strengthening the competitiveness of Macau’s bond market, aiming to attract more high-quality issuers and international investors, and supporting the development of the city’s bond market.
* It functions as an umbrella term for fixed-income instruments designed to raise capital for projects with positive environmental or social impacts. – Gemini
This logo downloaded from the Monetary Authority of Macao (AMCM) website yesterday shows its logo.
