Chinese Gov’t RMB bonds issue minimum investment at RMB10,000

Macau (MNA) – The Monetary Authority of Macau (AMCM) has indicated that the minimum amount for investment in the state-backed RMB bonds issued this Thursday will be RMB10,000 (MOP11,659/US$1,453).

The Chinese Ministry of Finance and the Macau government launched today about RMB2 billion (MOP2.3 billion/US$290.9 million) worth in bonds backed by the Chinese government, the first time sovereign bonds are issued in Macau.

The bonds are now open for investment by institutional investors, which can apply for such securities by opening an account in Chongwa (Macao) Financial Asset Exchange Co., Ltd or open a custody account with government underwriters.

Chongwa (Macao) Financial Asset Exchange Co., Ltd is a financial trade platform created only on August, 2018 that provides registration, custody and trading services for financial assets.

The Chinese Ministry of Finance designating the Bank of China, Macau branch as the sole global coordinator of this issue and as lead manager and bookrunner, in cooperation with 11 other banks

Investment entities can apply for the bonds in the following banking entities: BNU; BCM Bank; Tai Fung Bank; China Construction Bank Corporation Macau Branch; Industrial and Commercial Bank of China (Macau) Limited;The Hongkong and Shanghai Banking Corporation Limited, Macau Branch; Banco Luso Internacional; Agricultural Bank of China Limited; Guangdong Development Bank Limited, Macau Branch; Standard Chartered Bank (Hong Kong) Limited and the Well Link Bank.

However, the bonds will only available for Macau residents over 18 years of age starting from 9:00am on Friday according to the AMCM, with the investment period to last for two weeks.

Local residents can apply to the bonds at Bank Of China; BNU; Well Link Bank; Banco Luso Internacional; ICBC Macau; Guangdong Development Bank Limited, Macau Branch; Bank of Communications Co., Ltd. Macau Branch and BCM Macau.

In the event of over-subscription, the Bank of Communications Co., Ltd. will allocate all applications for subscription in a ‘fair and impartial manner’.