China to issue 23bn yuan dim sum bonds in 2013

BEIJING: China's finance ministry plans to issue 23 billion yuan of offshore "dim sum" bonds in Hong Kong this year, it said on Sunday, the same amount as last year.

The bonds will be launched in two batches 13 billion yuan to be sold on June 26 and the rest in the second half, the ministry said in a statement on its website, www.mof.gov.cn.

Of the 13 billion yuan, 10 billion yuan will be sold to institutional investors via Hong Kong's Central Moneymarket Unit (CMU), and the remaining 3 billion yuan will target foreign central banks and regional monetary authorities, it added.

Of the 10 billion yuan to be issued in the second half, 3 billion yuan will be sold to Hong Kong residents, the ministry said.