China, the world second-largest economy, is seeking to promote the RMB as a global currency and increase its use in cross-border trade. The central bank last year expanded use of the RMB for cross-border trade settlement to 18 more provinces, allowing companies based in areas including Beijing, and, Jiangsu and Zhejiang, the export hubs, to use the currency to pay for international goods and services.
Hopewell, which operates expressways net in China Pearl River Delta region, said in a May 27 statement that it would sell RMB bonds to Hong Kong institutional investors next month with help from Bank of China Limited local unit. The notes will be the first RMB bonds sold offshore by a non-financial Hong Kong-based company, company spokeswoman Sukyi Yau said.
