Hong Kong government bond auction draws strong demand for RMB notes
Hong Kong Monetary Authority announced the results of a reopened three-year RMB government bond auction on 12 November 2026. The 750 million yuan bond issue attracted bids totalling 5.53 billion yuan, with a bid-to-cover ratio of 7.37.
The Hong Kong Monetary Authority (HKMA), acting as representative of the Hong Kong Special Administrative Region (SAR) government, announced the results of a tender for the reopening of an existing RMB government institutional bond (issue number 05GB2912002) as a three-year bond under the Infrastructure Bond Programme. The auction was held on Thursday, 12 November 2026.
The SAR government offered 750 million yuan (approximately HK$810 million) in three-year bonds. The tender attracted total bids of 5.53 billion yuan, resulting in a bid-to-cover ratio of 7.37. The average accepted price was 102.80, corresponding to an annual yield of 1.437 per cent.
According to the HKMA, the semi-annualised yields for the average accepted price, the lowest accepted price, and the average bid price were 1.432 per cent, 1.449 per cent, and 1.528 per cent respectively. The bond is part of the SAR government's ongoing effort to develop the offshore renminbi market and provide investment instruments for institutional investors.