Dim Sum Bonds News Today

The aim is to help firms comply with US withholding tax requirements on foreign persons and entities, as the total issuance for dim sum bonds in 2023 tallied $76 billion in Hong Kong.

Hong Kong’s drive to promote dim sum bonds and yuan-denominated shares will strengthen its role as the main offshore trading centre for the Chinese currency, according to bankers who will attend a key summit in the city this week.

The tropical island of Hainan issued the first sustainable dim sum bonds by a Chinese provincial government as Beijing aims to strengthen Hong Kong’s position as an offshore financial centre.

The long-awaited southbound leg of the Bond Connect between mainland China and Hong Kong will encourage more bond offerings in the city, and prove to be a “game changer” that boosts its credentials as a green bonds and dim sum bonds centre, analysts said.