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The Economic Times
The Economic Times
Business
Anupam Nagar

Global Market: Bank of China (Hong Kong) plans $3.3 billion onshore yuan debt issuance

Chinese Yuan Hong Kong China

Bank of China (Hong Kong), the sole yuan-clearing bank in the financial hub, plans to issue up to 22.2 billion yuan ($3.3 billion) worth of interbank negotiable certificates of deposit (NCDs) in China's onshore market in 2026. This move aims to strengthen Hong Kong's position as a leading offshore yuan centre, according to a report by Reuters.

The lender has become the first offshore yuan-clearing bank to receive an issuance quota for onshore NCDs, according to a statement from China's Interest Rate Self-Regulatory Mechanism, which the People's Bank of China oversees, as per the report.

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