Skip to content
Subscriber Only

Hong Kong’s Chan Sees More Regular Yuan IPOs, China Bond Sales

Hong Kong will have more regular sales of yuan-denominated shares and Chinese government debt as deposits of the currency double, said K. C. Chan, the city’s secretary for financial services and the treasury.

The first yuan initial public offering, a listing of billionaire Li Ka-shing’s real estate investment trust, is a “very good product” even though REITs “don’t generate as much excitement as regular IPOs,” Chan, 54, said in an interview with Bloomberg TV. With deposits predicted by economists to reach 800 billion yuan ($123 billion) in a year “that’s a lot of deposits to support an efficient trading platform,” he said.