Hainan to issue dim sum bonds in HK

The country's southernmost province of Hainan plans to issue up to 3 billion yuan ($421.8 million) in offshore renminbi bonds in the Hong Kong Special Administrative Region, marking its third consecutive year of tapping the dim sum bond market.

The People's Government of Hainan and the Hong Kong Monetary Authority jointly hosted an investor roadshow on Wednesday to promote the bond sale. This follows Hainan raising 5 billion yuan through a mix of green, blue and sustainable bonds last year, and a 5 billion yuan offering in 2022.

This year's bond sale is expected to include three tranches: a three-year green bond for environmental and social sustainability projects, a five-year bond for general government use, and a 10-year blue bond focusing on ocean-related initiatives.