| chinadaily.com.cn | |||||||||
|
|||||||||
|
HK 10 Years > Economy |
|
Banks to issue Renminbi bond in HK
The regulations on Chinese mainland banks' Renminbi bond issuance in Hong Kong jointly issued by the central bank and the top economic planner came into effect on Friday, a move to consolidate the special administrative region's status of international financial center, said the central bank. The regulations said policy and commercial banks are allowed to issue Renminbi bonds in Hong Kong and nailed down qualification requirements on the issuers and issuance procedures. Qualified domestic banks must have a core capital adequacy ratio above 4 percent, keep earning profits for recent three years, have sufficient loan loss reserve, meet risk control requirements and have not conducted illegal behaviors in recent three years, said the regulations. Banks to issue Renminbi bonds in Hong Kong must submit applications to the central bank and receive reviews of the National Development and Reform Commission. The two recipients will examine the banks' qualifications and report to the State Council. A central bank official said the issuance would increase Hong Kong residents' Renminbi investment choices and expand Renminbi business in Hong Kong . He said the Renminbi business is developing healthily in Hong Kong, and by the end of April 38 banks in Hong Kong had opened Renminbi business. The Renminbi deposits in Hong Kong-based banks have reached 25.5 billion yuan, he added. So far three mainland banks have announced to consider issuing Renminbi bonds in Hong Kong. They are the Import and Export Bank of China, the Bank of China and China Construction Bank. |
|
|
Copyright 1995-2007. All rights reserved. |
莱西市| 朔州市| 达尔| 襄垣县| 扎赉特旗| 海门市| 拜泉县| 出国| 隆德县| 永川市| 昭觉县| 全南县| 密云县| 惠水县| 通城县| 巴林右旗| 台北县| 南丹县| 垣曲县| 临沧市| 利辛县| 科技| 大悟县| 红桥区| 广东省| 鄂温| 兰考县| 昌都县| 金寨县| 邻水| 承德市| 中方县| 离岛区| 汤原县| 临澧县| 陵水| 盐城市| 台山市| 班玛县| 汾阳市| 栖霞市|