BOCHK to launch offshore yuan bond index
Bank of China Hong Kong plans to launch the first offshore yuan bond index in Hong Kong on December 31. The bank hopes to enable investors to have a better understanding of the prices and performances of offshore yuan bonds.
The vice president of BOC Hong Kong, Wang Shixiong, said all the yuan bonds launched in Hong Kong in recent years recorded oversubscription rates.
The yuan bond index will track the total returns of offshore yuan bonds, including interest income and capital gains or losses.
The index will comprise 28 offshore yuan bonds worth a total of US$8.14 million in terms of market value and accounting for 90 percent of the total market value.