Hong Kong is seeking to develop itself into a major infrastructure financing center, taking advantage of the corporate fundraising demand under the Belt and Road Initiative as well as international investors' interest in infrastructure projects, a senior monetary official from Hong Kong said on Thursday.
China Development Bank announced on Wednesday the issuance of a five-year Belt and Road bond in Hong Kong, raising $350 million to fund B&R-related projects. It was the first mainland bank to sell such a bond in Hong Kong.
"This first ever issuance of a Belt and Road bond by CDB has a demonstration effect and underscores the pivotal role that Hong Kong can play in facilitating the financing of infrastructure projects," Chan Tak-lam, chief executive of the Hong Kong Monetary Authority, said at a media briefing in Beijing. (22 Dec 2017)
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