The government of the Hong Kong Special Administrative Region (HKSAR) Tuesday welcomed the issue of Renminbi (RMB) sovereign bonds in Hong Kong by the central government.

The Chinese Ministry of Finance announced Tuesday that the central government will issue RMB sovereign bonds totaling 6 billion yuan in Hong Kong on Sept. 28, 2009.

An HKSAR government spokesman said the move clearly demonstrated the central government's support for Hong Kong as an international financial center to further develop RMB business and illustrates the interactive, complementary and cooperative relationship between the financial systems of the mainland and Hong Kong.

The spokesman added that the issue of RMB sovereign bonds was a new milestone for the development of RMB business in Hong Kong. It will also enhance financial cooperation between the mainland and Hong Kong.

(Xinhua News Agency September 8, 2009)