The Shenzhen Municipal People’s Government issued offshore Renminbi (RMB) bonds, including green bonds, totalling RMB 5 billion in Hong Kong in 2021. It is the first Mainland municipal government issuing bonds outside the Mainland. Subsequently in 2022, 2023 and 2024, it issued offshore RMB bonds of RMB 5 billion, RMB 5 billion and RMB 7 billion respectively in Hong Kong again. The Guangdong Provincial People’s Government also issued its first offshore RMB bonds totalling RMB 5 billion in Hong Kong in 2024. The above issuances are of significance in further promoting RMB internationalisation and the development of green and sustainable finance in Hong Kong.
