Core Insights - Shenzhen Municipal Government successfully issued 1 billion offshore RMB local government bonds in Macau, with a coupon rate of 1.74% and a maturity of 3 years, aimed at funding clean transportation projects in Shenzhen [1] - This marks the first issuance and listing of offshore RMB local government bonds by Shenzhen in Macau, as well as the first green bond themed on climate change, attracting significant market interest with a subscription multiple of 6.62 times, setting a historical high for RMB bond issuance in Macau [1] - The choice of Macau as the issuance location reflects an innovative breakthrough in cross-border financial cooperation between Shenzhen and Macau, coinciding with the 45th anniversary of Shenzhen Special Economic Zone [1] Company and Industry Summary - MOX, as the first financial exchange in Macau providing comprehensive services for bond registration, custody, issuance, listing, trading, and settlement, played a crucial role in the successful listing of the bonds, emphasizing its commitment to professional and efficient service [2] - MOX aims to further optimize its service ecosystem and explore key areas such as green finance, integrating diverse financial resources to support the real economy and innovative projects in the Greater Bay Area, thereby facilitating the implementation of major regional strategies and promoting green low-carbon transformation [2]