Bank of China (Hong Kong) to Strengthen Offshore Yuan Center with $3.3 Billion Debt Issuance

Bank of China (Hong Kong) is set to issue up to 22.2 billion yuan ($3.3 billion) worth of interbank negotiable certificates of deposit (NCDs) in China’s onshore market in 2026. This strategic move is aimed at enhancing Hong Kong’s standing as a premier offshore yuan center, as revealed in a report by Reuters. The bank has secured the distinction of being the initial offshore yuan-clearing bank to obtain an issuance quota for onshore NCDs, according to a statement from China’s Interest Rate Self-Regulatory Mechanism overseen by the People’s Bank of China. The planned issuance, denominated in yuan, will be tailored…