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| HK becomes China's offshore yuan base |
| 09-SEP-2010 Intellasia | Reuters |
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| 9 Sep, 2010 - 7:09:00 AM |
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Hong Kong has become a platform for China to spread the use of its currency abroad, issuing increasing volumes of yuan-denominated bonds and offering ways to invest in the renminbi.
Yuan deposits in Hong Kong have been rising after Beijing lifted some restrictions on the use of its currency to settle trade in Hong Kong in June 2009. Renminbi-denominated bond issues in Hong Kong have also steadily increased after a rule change by China in June 2007.
The city's yuan deposits rose 15.6 percent to 103.7 billion at the end of July from a month earlier, data from the Hong Kong Monetary Authority showed.
Yuan deposits make up 1.6 percent of total deposits. Herewith the list of the latest yuan bond issues launched in Hong Kong:
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- Date Issuer Amount Coupon Maturity
Origin
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- 2010 Bank of China 5.0 billion 2.65 percent 2-yrs
China September Ltd (3988.HK) yuan 2.9 percent 3-yrs
601988.SAS
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- 2010 Hopewell Highway 1.38 billion 2.98 percent 2-yrs
HK July Infrastructure yuan
Ltd (0737.HK)
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- 2009 HSBC (China) 2.0 billion 2.6 percent 2-yrs
Chinese September (0005.HK)(HSBA.L) yuan
branch
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- 2009 China Development 2.0 billion 2.0 percent 2-yrs
China August Bank 1.0 billion SHIBOR+30 BPs 2-yrs
yuan
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- 2009 Bank of East Asia 4.0 billion 2.8 percent 2-yrs
Chinese July Ltd (China) yuan
branch
(0023.HK)
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- 2009 HSBC (China) 1.0 billion SHOBOR+38 BPs 2-yrs
Chinese June (0005.HK)(HSBA.L) yuan
branch
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- 2009 Ministry of 6.0 billion 2.25 percent 2-yrs
China January Finance, China yuan 2.7 percent 3-yrs
3.3 percent 5-yrs
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- 2008 Bank of China 3.0 billion 3.25 percent 2-yrs
China September Ltd (3988.HK) yuan 3.4 percent 3-yrs
(601988.SS)
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- 2008 China Construction 3.0 billion 3.24 percent 2-yrs
China September Bank (0939.HK) yuan
(601939.SS)
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- 2008 Export-Import 3.0 billion 3.4 percent 3-yrs
China August Bank of China yuan
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- 2008 Bank of 3.0 billion 3.25 percent 2-yrs
China July Communications yuan
Co Ltd (3328.HK)
(601328.SS)
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- 2007 Bank of China 3.0 billion 3.15 percent 2-yrs
China September Ltd (3988.HK) yuan 3.35 percent 3-yrs
(601988.SS)
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- 2007 Export-Import 2.0 billion 3.05 percent 2-yrs
China August Bank of China yuan 3.2 percent 3-yrs
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- 2007 China Development 5.0 billion 3.0 percent 2-yr
China July Bank [CHDB.UL] yuan
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http://www.reuters.com/article/idUSTOE68504920100907
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