中国财政部在卢森堡成功发行40亿欧元主权债券 中新社北京11月19日电 (记者 赵建华)中国财政部代表中央政府18日在卢森堡成功发行了40亿欧元主权 债券。其中，4年期20亿欧元，发行利率为2.401%；7年期20亿欧元，发行利率为2.702%。 这是中国首次在卢森堡发行欧元主权债券，受到市场热烈欢迎，国际投资者认购踊跃，总认购金额1001 亿欧元，是发行金额的25倍。其中，7年期认购倍数26.5倍。 此次欧元主权债券投资者类型丰富，地域分布广泛。欧洲、亚洲、中东、美国离岸投资者分别占比 51%、35%、8%、6%，主权类、基金资管、银行和保险、交易商等类型投资者分别占比26%、39%、 32%、3%。此次发行的债券全部托管在香港金管局债务工具中央结算系统(CMU)，随后将在香港联合 交易所和卢森堡证券交易所上市。 此次发行获得国际投资者踊跃认购，汇丰银行(中国)有限公司行长兼行政总裁王云峰表示，这充分体现 了国际市场对中国主权信用和经济前景的坚定信心，同时也为更多中资发行人的欧元融资提供了定价基 准，为其海外融资和发展夯实基础。 财政部选择卢森堡作为发行地，摩根大通环球企业银行大中华区主管黄健表示，这有助于 ...

此次欧元主权债券投资者类型丰富，地域分布广泛。欧洲、亚洲、中东、美国离岸投资者分别占比 51%、35%、8%、6%，主权类、基金资管、银行和保险、交易商等类型投资者分别占比26%、39%、 32%、3%。此次发行的债券全部托管在香港金管局债务工具中央结算系统（CMU），随后将在香港联 合交易所和卢森堡证券交易所上市。 （总台央视记者 王楠） 11月18日，中华人民共和国财政部代表中央政府在卢森堡成功发行了40亿欧元主权债券。其中，4年期 20亿欧元，发行利率为2.401%；7年期20亿欧元，发行利率为2.702%。这是我国首次在卢森堡发行欧元 主权债券，受到市场热烈欢迎，国际投资者认购踊跃，总认购金额1001亿欧元，是发行金额的25倍。其 中，7年期认购倍数26.5倍。 ...

实习编辑:金怡杉 | 审核:李震 | 监审:古筝 此次欧元主权债券投资者类型丰富，地域分布广泛。欧洲、亚洲、中东、美国离岸投资者分别占比 51%、35%、8%、6%，主权类、基金资管、银行和保险、交易商等类型投资者分别占比26%、39%、 32%、3%。此次发行的债券全部托管在香港金管局债务工具中央结算系统（CMU），随后将在香港联 合交易所和卢森堡证券交易所上市。 【大河财立方消息】11月18日，中华人民共和国财政部代表中央政府在卢森堡成功发行了40亿欧元主权 债券。其中，4年期20亿欧元，发行利率为2.401%；7年期20亿欧元，发行利率为2.702%。这是我国首 次在卢森堡发行欧元主权债券，受到市场热烈欢迎，国际投资者认购踊跃，总认购金额1001亿欧元，是 发行金额的25倍。其中，7年期认购倍数26.5倍。 ...

Core Points - The Ministry of Finance of the People's Republic of China successfully issued $4 billion in sovereign bonds in Hong Kong on November 5, with a strong market response [1] - The bonds included $2 billion with a 3-year maturity at an interest rate of 3.646% and $2 billion with a 5-year maturity at an interest rate of 3.787% [1] - The total subscription amount reached $118.2 billion, indicating a subscription rate 30 times the issuance amount, with the 5-year bonds having a subscription rate of 33 times [1] Investor Composition - The investor base was diverse, with geographical distribution as follows: 53% from Asia, 25% from Europe, 16% from the United States, and 6% from the Middle East [1] - The types of investors included sovereign entities (42%), banks and insurance companies (24%), fund management (32%), and dealers (2%) [1] - All issued bonds will be listed on the Hong Kong Stock Exchange [1]

Core Points - The Ministry of Finance successfully issued $4 billion in sovereign bonds on November 5 in the Hong Kong Special Administrative Region [1] - The bonds included $2 billion with a 3-year maturity at an interest rate of 3.646% and $2 billion with a 5-year maturity at an interest rate of 3.787% [1] - The issuance was highly welcomed by the market, with total subscriptions reaching $118.2 billion, which is 30 times the issuance amount [1] - The 5-year bonds had a subscription multiple of 33 times [1] Investor Composition - The investor base was diverse, with geographical distribution as follows: 53% from Asia, 25% from Europe, 16% from the United States, and 6% from the Middle East [1] - The types of investors included: 42% sovereign entities, 24% banks and insurance companies, 32% fund management, and 2% trading firms [1] - All issued bonds will be listed on the Hong Kong Stock Exchange [1]

Core Points - The Ministry of Finance of the People's Republic of China successfully issued $4 billion in sovereign bonds in the Hong Kong Special Administrative Region on November 5 [1] - The issuance included $2 billion in 3-year bonds with an interest rate of 3.646% and $2 billion in 5-year bonds with an interest rate of 3.787% [1] - The bonds received strong market interest, with total subscriptions amounting to $118.2 billion, representing a subscription rate of 30 times the issuance amount [1] - The 5-year bonds had an even higher subscription rate of 33 times [1] Investor Composition - The investor base was diverse, with geographical distribution as follows: 53% from Asia, 25% from Europe, 16% from the United States, and 6% from the Middle East [1] - In terms of investor types, sovereign entities accounted for 42%, banks and insurance companies for 24%, fund management for 32%, and dealers for 2% [1] - All issued bonds will be listed on the Hong Kong Stock Exchange [1]

Group 1 - The Ministry of Finance will issue US dollar sovereign bonds in Hong Kong Special Administrative Region during the week of November 3, 2025, with a scale not exceeding 4 billion USD [1] - On November 13, 2024, the Ministry of Finance successfully issued 2 billion USD sovereign bonds in Riyadh, Saudi Arabia, marking China's first issuance of US dollar bonds in the Middle East [3] - The issuance included 1.25 billion USD for 3-year bonds at an interest rate of 4.284% and 750 million USD for 5-year bonds at an interest rate of 4.34% [3] Group 2 - The total subscription amount for the bonds reached 39.73 billion USD, which is 19.9 times the issuance amount, with the 5-year bonds having a subscription multiple of 27.1, setting a record for sovereign bond issuance [3] - The issuance yields for the 3-year and 5-year bonds were only 1 basis point and 3 basis points higher than the corresponding US Treasury bonds, marking the lowest yield spread in the US dollar bond market [3] - The successful issuance of US dollar sovereign bonds reflects international investors' confidence in China's economic and social development [4]

Core Viewpoint - The Ministry of Finance will issue US dollar sovereign bonds in Hong Kong with a scale not exceeding 4 billion USD during the week of November 3, 2025, following the approval from the State Council [1] Group 1: Recent Issuance and Market Response - On November 13, 2024, the Ministry of Finance successfully issued 2 billion USD in sovereign bonds in Riyadh, marking China's first issuance in the Middle East market [1] - The issuance included 1.25 billion USD in 3-year bonds at a rate of 4.284% and 750 million USD in 5-year bonds at a rate of 4.34% [1] - The total subscription amount reached 39.73 billion USD, 19.9 times the issuance amount, with the 5-year bonds having a subscription multiple of 27.1, setting a record for global sovereign bond issuance [1] Group 2: Historical Context and Investor Participation - Over the past decade, China's sovereign US dollar bonds have primarily been issued in the offshore market in Hong Kong [2] - On October 19, 2021, the Ministry issued 4 billion USD in sovereign bonds, marking the fifth consecutive year of issuance since the resumption in 2017 [2] - The issuance included 1 billion USD in 3-year bonds at a yield of 0.772%, 1.5 billion USD in 5-year bonds at 1.275%, 1 billion USD in 10-year bonds at 1.86%, and 500 million USD in 30-year bonds at 2.605% [2] - The subscription multiple exceeded 6 times, with active participation from international organizations, central banks, and various institutional investors, indicating a well-distributed investor base [2] Group 3: Strategic Importance - The successful issuance of US dollar sovereign bonds is seen as a significant measure to better utilize both domestic and international markets and resources, enhancing China's openness at a higher level [2] - It further improves the yield curve of US dollar sovereign bonds and reflects international investors' confidence in China's economic and social development [2]