Source: CCTV.com

07-10-2007 14:42

The China Development Bank has a hit with its issuance of renminbi bonds in the Hong Kong Special Administrative Region.

It is the first such issuance by a mainland financial institution. It has attracted 14 billion yuan, nearly triple the initial offering. Officials say the oversubscription shows the confidence of Hong Kong residents in the long-term development of the Chinese economy. And they say it's a "ringing endorsement" of the CDB's credit and business performance.

The two-year bond with an annual yield of 3 percent is to be issued Wednesday and equally shared among institutions and individual investors.

 

Editor:Li Yang