Considers yuan bond issue

2008-6-9  |     NEWSPAPER EDITION

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BOC Hong Kong (Holdings) Ltd, the city's largest publicly traded bank by assets, said it will consider selling bonds denominated in Chinese currency to investors in Hong Kong.

"We will try to be a distributor of yuan bonds," Lawrence Law, BOC Hong Kong's general manager for personal banking and product management, said on the sidelines of the BOCHK Wealth Management Expo. "We believe there will be strong demand." He declined to give a specific timetable. Law also said interest rates in Hong Kong will likely "remain stable."

Bank of Communications Co, part-owned by HSBC Holdings Plc, said that shareholders approved a plan to sell as much as 5 billion yuan (US$722 million) of bonds in Hong Kong. Bank of China Ltd, China Development Bank and Export-Import Bank of China raised a combined 10 billion yuan selling two- and three-year debt in Hong Kong last year.

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Considers yuan bond issue

BOC Hong Kong (Holdings) Ltd, the city's largest publicly traded bank by assets, said it will consider selling bonds denominated in Chinese currency to investors in Hong Kong. "We will try to be a distributor...

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