RMB T-bonds three times oversubscribed in HK

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The Ministry of Finance (MOF) said Tuesday the 6 billion yuan (879 million U.S. dollars) of treasury bonds issued in Hong Kong has got a subscription of 18 billion yuan since Sept. 28.

The total subscription amount is three times of the 6 billion yuan, a great success for the treasury bonds issuance, said the MOF on its website.

It is the first time that the central government has issued yuan-denominated treasury bonds outside the Chinese mainland, which also marks China's further efforts in internationalizing yuan, or renminbi.

The sales period of the bonds runs from Sept. 28 to Oct. 20. An annual interest rate of 2.25 percent will be paid for the two-year bonds, 2.7 percent for the three-year ones, and 3.3 percent for the five-year ones.