China to sell 12 bln yuan in treasury bonds in HK

China's Ministry of Finance (MOF) announced on Monday that it will sell treasury bonds worth 12 billion yuan (1.97 billion U.S. dollars) in Hong Kong in the week starting Nov. 17.

The move is part of a scheme to float 28 billion yuan in treasury bonds in Hong Kong this year. The first batch worth 16 billion yuan was floated on May 21.

The bonds to be issued this time will be offered to institutional investors and Hong Kong residents. The first batch was sold to institutional investors, foreign central banks and local monetary authorities.

The MOF started selling yuan-denominated treasury bonds in Hong Kong in September 2009 to boost Hong Kong's economy and speed up the expansion of offshore yuan business.

Altogether 23 billion yuan in treasury bonds were issued in Hong Kong in 2013, the MOF said.