PBOC to issue first RMB bonds in Macau

The central bank will issue RMB2 billion ($291.04 million) in yuan-denominated treasury bonds in Macau on July 4, marking the first Chinese treasury bond sale in the gambling hub, reports Reuters. 

Earlier this month, Macau was said to be considering launching a yuan-based stock market to help its diversification efforts. The city has started to develop financial leasing, wealth management and yuan clearing but services and volumes pale in comparison with neighboring Hong Kong. The financial hub hosted RMB612 billion of offshore yuan deposits as of April, compared to Macau’s RMB30 billion. 

Read more.

Tell us what you think