China opens up issuance of Renminbi Bonds in Hong Kong
Abstract
Purpose
The purpose of this paper is to explain the legal framework of both Hong Kong and the People's Republic of China (PRC) that governs the issuance of Renminbi bonds in Hong Kong.
Design/methodology/approach
The paper explains the background; outlines key requirements under PRC laws, including eligibility requirements, application procedures in China, timing and reporting, and remittance and payment procedures; and looks at key issues arising from the regulatory regime of Hong Kong.
Findings
The paper finds that, given the relatively low interest rate for Renminbi deposits in Hong Kong, Hong Kong, investors have generally welcome the inaugural issues of Renminbi bonds by the China Development Bank and the Export‐Import Bank of China.
Originality/value
The paper provides practical guidance from experienced Hong Kong and China securities lawyers.
Keywords
Citation
Heng, C., Yanping, C., Li, R. and TieCheng, Y. (2007), "China opens up issuance of Renminbi Bonds in Hong Kong", Journal of Investment Compliance, Vol. 8 No. 4, pp. 56-59. https://doi.org/10.1108/15285810710839561
Publisher
:Emerald Group Publishing Limited
Copyright © 2007, Emerald Group Publishing Limited