By South China Morning Post | Created at 2024-10-21 17:01:34 | Updated at 2024-10-21 23:19:42
6 hours ago
Hong Kong’s finance chief has shared how the city used retail bond issuances to fund infrastructure projects as he began a visit to Peru for an Asia-Pacific Economic Cooperation (Apec) meeting.
At a finance ministers’ retreat in Lima, Paul Chan Mo-po spoke about Hong Kong’s efforts in promoting quality infrastructure development and the digital transformation of financial services.
“[Chan] specifically shared Hong Kong’s experience in issuing retail bonds to support infrastructure projects that benefit the economy and people’s lives,” the government said on Monday.
“He highlighted that this arrangement allows residents to participate in advancing infrastructure projects, and provides them with a safe, reliable and stable investment option, while also raising funds for these projects.
“This approach achieves the dual goals of supporting inclusive finance and infrastructure development.”
The financial secretary’s speech made reference to the government’s issuance of HK$55 billion (US$7 billion) worth of Silver Bonds.
The retail bonds are for investors aged 60 and above, and offer an annual interest rate of at least 4 per cent. The issue was raised from HK$50 billion due to strong demand.
