TechFlow news — On January 16, it was reported that Zhuhai Huafa Group, a Chinese state-owned enterprise, issued a digital bond worth 1.4 billion RMB (approximately 190 million USD) in Hong Kong on December 23. This marks the first Chinese digital bond ever issued in Hong Kong. The issuance was conducted via HSBC's Orion digital asset platform, operated by Hong Kong's Central Moneymarkets Unit (CMU).
The three-year digital bond, with a coupon rate of 4.5%, is dual-listed on the Hong Kong Stock Exchange and the Macau Stock Exchange. Investors can trade the bond through Hong Kong's "Southbound Connect," Euroclear, and Clearstream. Fitch Ratings assigned the bond a BBB rating. United Ratings International positioned this issuance as part of efforts to internationalize the RMB and develop the offshore RMB market.
