Beijing China Economic Net News February 14 10, by the China Industrial and Commercial Bank, a wholly owned investment banking subsidiary of ICBC International and Taiwan SinoPac Securities (Asia) Limited as co-chair underwriter and bookrunner of the Yuen Foong Yu Cayman Islands company 300 million yuan bonds in Hong Kong was successfully issued. This is a Taiwan-funded enterprises in Hong Kong first branch of RMB bonds issued for the Taiwan-funded enterprises in the Mainland's development has opened up a new financing channels. It is also, ICBC International and SinoPac Securities following the September 2010 to jointly promote the Yangtze River boat Holdings TDR (TDR) listing of the further co-operation project for the deepening of cross-Strait financial cooperation is of great significance.
issuer Yuen Foong Yu Taiwan, Cayman Islands companies listed Yuen Foong Yu Paper Co., Ltd. (largest private paper-making enterprises, ranking the leading position in the paper industry. The Yuen Foong Yu yuan bond issue to take private the way, release the amount of 3 billion yuan, 3-year term bonds, sold to institutional investors.
Insiders pointed out that the first branch of renminbi bonds in Hong Kong and Taiwan enterprises a smooth release of capital markets is expected to bring more Taiwan businesses and investors to choose the renminbi-denominated financial products, to speed up internationalization of the RMB to promote the construction of Hong Kong's renminbi offshore center. Meanwhile, the cross-strait economic agreements (ECFA) since the official launch of cross-strait economic exchanges warming. Taiwan-funded enterprises to expand the issuance of RMB bonds in Hong Kong, new financing channels for closer cross-strait economic exchanges and trade cooperation, strengthen Taiwan-funded enterprises to contact with the mainland market, help Taiwan-funded enterprises in the Mainland and better development.
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