China is moving forward with plans to issue its first sovereignbonds in dollars since 2004 in a deal that will put a symbolic sealof approval on the booming offshore Asian debt market.

The Ministry of Finance was scheduled to meet with bankers inBeijing Wednesday to discuss the sale, according to people familiarwith the plans. The deal is aimed for as soon as this month,according to the people, who asked not to be named as the specificsaren't public. The MOF said in a statement it will sell $2 billionworth of notes.

While China's government doesn't need to borrow offshore, with adomestic debt market that's now the world's third-largest, itsbonds will provide a new benchmark for pricing the country'sstate-owned enterprises. A successful deal will pull down thoseborrowing costs, and may fuel further sales after what's beenrecord issuance so far this year.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.