China sells 5 bn yuan of treasury bonds in Hong Kong

BEIJING: China's finance ministry said on Wednesday it has successfully sold 5 billion yuan ($722.66 million) of yuan-denominated treasury bonds in Hong Kong.

The ministry said in a statement it has issued 4.5 billion yuan in bonds to institutional investors, consisting of 3 billion yuan of two-year bonds at 3.65 percent, and 1.5 billion yuan of 5-year bonds at 3.80 percent.

The ministry issued 300 million yuan of two-year bonds and 200 million yuan of five-year bonds to overseas central banks and regional monetary authorities at the prevailing rate on Chinese treasury bonds of the same maturity.

The deal came as the yuan softens amid an escalating Sino-US trade war and China's sluggish economic growth.