Hong Kong Monetary Authority Releases Tender Results for RMB Sovereign Bonds on April 23, 2025.

Result of tenders of RMB Sovereign Bonds held on April 23, 2025

The following is issued on behalf of the Hong Kong Monetary Authority:

Result of the tenders of RMB Sovereign Bonds held on April 23, 2025

Tender Result

*********************************************************************

Tender Date

:

April 23, 2025

Bonds available for Tender

:

2-year RMB Bonds

Issuer

:

The Ministry of Finance of the People's Republic of China

Issue Number

:

BCMKFB25004 (Further Issuance)

Issue and Settlement Date

:

April 25, 2025

Maturity Date

:

February 21, 2027 (or the closest coupon payment date)

Coupon Rate

:

1.75 per cent

Application Amount

:

RMB 10,177 million

Issue Amount

:

RMB 4,000 million

Average Accepted Price

:

100.29

Lowest Accepted Price

:

100.20

Highest Accepted Price

:

100.45

Allocation Ratio

(At Lowest Accepted Price)

:

Approximately 41.07 per cent

Tender Result

*********************************************************************

Tender Date

:

April 23, 2025

Bonds available for Tender

:

3-year RMB Bonds

Issuer

:

The Ministry of Finance of the People's Republic of China

Issue Number

:

BCMKFB25005 (Further Issuance)

Issue and Settlement Date

:

April 25, 2025

Maturity Date

:

February 21, 2028 (or the closest coupon payment date)

Coupon Rate

:

1.80 per cent

Application Amount

:

RMB 11,583 million

Issue Amount

:

RMB 4,000 million

Average Accepted Price

:

100.55

Lowest Accepted Price

:

100.41

Highest Accepted Price

:

100.96

Allocation Ratio

(At Lowest Accepted Price)

:

Approximately 94.74 per cent

Tender Result

*********************************************************************

Tender Date

:

April 23, 2025

Bonds available for Tender

:

5-year RMB Bonds

Issuer

:

The Ministry of Finance of the People's Republic of China

Issue Number

:

BCMKFB25006 (Further Issuance)

Issue and Settlement Date

:

April 25, 2025

Maturity Date

:

February 21, 2030 (or the closest coupon payment date)

Coupon Rate

:

1.88 per cent

Application Amount

:

RMB 10,672 million

Issue Amount

:

RMB 3,000 million

Average Accepted Price

:

101.09

Lowest Accepted Price

:

100.85

Highest Accepted Price

:

101.30

Allocation Ratio

(At Lowest Accepted Price)

:

Approximately 71.56 per cent

Tender Result

*********************************************************************

Tender Date

:

April 23, 2025

Bonds available for Tender

:

15-year RMB Bonds

Issuer

:

The Ministry of Finance of the People's Republic of China

Issue Number

:

BCMKFB25028

Issue and Settlement Date

:

April 25, 2025

Maturity Date

:

April 25, 2040 (or the closest coupon payment date)

Application Amount

:

RMB 5,950 million

Issue Amount

:

RMB 1,500 million

Average accepted Coupon Rate

:

2.05 per cent

Highest accepted Coupon Rate

(Bonds’ Coupon)

:

2.10 per cent

Lowest accepted Coupon Rate

:

1.90 per cent

Allocation Ratio

(At Highest accepted Coupon Rate)

:

Approximately 2.97 per cent

Notice on appointments to advisory and statutory bodies

A Government spokesman said today (January 12) that Mr Chan Kin-por recently sought approval from the Chief Executive to suspend his three public positions as appointed by the Chief Executive, until the completion of the work of the Independent Committee in relation to the fire at Wang Fuk Court in Tai Po (Independent Committee). Mr Chan made this request to allow himself more time to dedicate to the work of the Independent Committee. After due consideration, the Chief Executive has agreed to and approved this request. The three public positions are: (1) Chairman of Independent Commission Against Corruption Advisory Committee on Corruption; (2) Non-executive Director of Urban Renewal Authority Board; and (3) Member of Honours and Non-official Justices of the Peace Selection Committee.

Mr Chan Kin-por, Photo source: reference image

On December 12, 2025, the Government established the Independent Committee to examine the causes of the incident and related issues, ascertain the facts, and make recommendations on preventing similar tragedies and on improvement measures. The Independent Committee is chaired by Mr Justice David Lok, with Mr Chan Kin-por and Dr Rex Auyeung Pak-kuen serving as members. The Independent Committee held its first meeting on December 19 last year and aims to complete its work within nine months of commencing operations.

Mr Chan Kin-por wrote earlier to the Chief Executive, expressing his wish to suspend the aforementioned three public positions until the Independent Committee completes its work, in order to dedicate more time and focus to the Independent Committee's tasks. The Chief Executive has agreed to and approved the request.

A Government spokesperson said that since the fire at Wang Fuk Court in Tai Po, both the Government and the wider community have been highly concerned about the causes of the incident and the follow-up work. The scope of the Independent Committee's work is extensive, particularly concerning systemic issues related to bid-rigging and connected interests. Given the numerous issues involved and their complex nature, the Government will fully co-operate with the Independent Committee to ensure that it can complete its work and compile its report within nine months. The Government extends its gratitude to Mr Chan for accepting the appointment as a member of the Independent Committee and for his professional and conscientious approach to the Committee's work. When the Independent Committee's work is completed, the Government looks forward to Mr Chan's continuous contribution through his aforementioned public positions.

Wang Fuk Court in Tai Po, Photo by Bastille Post