Guangdong to issue RMB2.5b bonds, benefiting Hengqin

The Guangdong government will issue RMB2.5 billion (MOP2.8 billion) worth of offshore local government bonds in Macau later this month. The bonds, which will be offered to professional investors only, include green bonds and government bonds, and will be used to support major infrastructure construction projects in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin. This bond issuance marks the fourth consecutive year since 2021 that Guangdong province has issued municipal government bonds in Macau. Notably, this will be the first-ever Hengqin-themed bond to be issued in Macau.