King & Wood Mallesons

Asia-Pacific 100 position: 3

NDRC issues supplemental regulations in relation to RMB Bonds in Hong Kong

On 7 March 2013, the National Development and Reform Commission (NDRC) published the ‘Template Outline of the Application Report for the Issuance of Renminbi bonds in Hong Kong by Onshore Non-financial Institutions’, which sets out the relevant information required to be included in an application for Renminbi (RMB) bond issuance in Hong Kong by PRC onshore non-financial institutions.

As part of China’s commitment to foster the development of the offshore RMB bond market in Hong Kong, the NDRC published the “Circular on the Matters relating to the Issuance of RMB Bonds in Hong Kong by Onshore Non-financial institutions” (the NDRC Circular) on 2 May 2012 which formalises the approval process and stipulates the regulatory framework for PRC onshore non-financial institutions to issue RMB bonds in Hong Kong. Further to the NDRC Circular, the NDRC issued the Template Outline on 7 March 2013, which became effective on 15 March 2013.

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