(Reuters) - China's Ministry of Finance plans to issue up to 8 billion yuan ($1.18 billion) in government bonds in Hong Kong as early as this month, a local newspaper reported on Thursday.
The ministry was also considering listing the bond on the Hong Kong exchange, which would make it the first yuan-denominated bond to be listed in the city, the Apple Daily reported on Thursday quoting market sources.
Last year, the Finance Ministry issued 6 billion yuan in yuan-denominated bonds in Hong Kong to retail and institutional investors.
Bank of China Ltd also planned an up to 5 billion yuan bond issue in two tranches with maturities of two and three years for retail investors for subscription from Sept 8-14, the newspaper said.
China Development Bank and Export-Import Bank of China had won approval to each issue bonds of up to 5 billion yuan in Hong Kong this year, the newspaper said.
Issuers including China Construction Bank Corp (CCB), Bank of East Asia Ltd, and China's Ministry of Finance have sold a total of nearly 40 billion yuan in yuan-denominated bonds in Hong Kong since 2007.
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