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China’s Municipal Yuan Debt Is Going Offshore For the First Time

  • Shenzhen, Guangdong seeking underwriters for offerings
  • Moves come as China seeks to boost yuan’s international use
Shenzhen city in China.

Shenzhen city in China.

Photographer: Qilai Shen/Bloomberg

The so-called Dim Sum bond market is about to get a new kind of issuer: local Chinese governments. 

In a first for the $77 billion offshore yuan bond market, Shenzhen city government is seeking underwriters for an offering of up to 5 billion yuan ($771 million), according to a statement Tuesday. Guangdong province is also planning such a sale in Macau, without giving the size.