Promoting the Bond Market
29. In addition to our
regulatory work, we will continue to promote our bond
fund-raising activities in
are now carried out through banking facilities and the
stock market. This
means that our bond market has ample room to develop.
Last May, we issued a $6 billion securitisation
bond for the government tolled tunnels and bridges. This
is the largest-ever securitisation bond offering in
, and the first made available to retail investors. It
also ranks among the largest in the region and has
received 17 financial
services awards, including those from Asiamoney,
FinanceAsia and IFR. In July last year, the
Government launched its $20 billion global bond
was the largest dual-currency and multi-tranche offering
from the region, available to both retail and
It also generated the largest subscription and
issue amounts for a retail bond offering in
offering was oversubscribed by local and international
investors alike, and opened a new chapter for
in the international capital markets.
It too was the recipient of a number of awards.
We will consider whether to issue additional
bonds in future, having regard to our objective of
promoting the local bond market and the financial
position of the Government.
I hope that, as our bond market develops further,
more corporations and investors from the Mainland and
overseas will make use of our market to meet their
funding and investment needs.
I also look forward to the issuance in
of more bonds denominated in various currencies.