Hopewell Highway pioneers offshore renminbi bonds

A Hong Kong company that builds toll roads in China has become the first company to market renminbi bonds to international investors.

Hopewell Highway Infrastructure is set to become the first company to sell bonds denominated in renminbi to international investors. The Hong Kong-based toll road company will start marketing the bonds today and will use the proceeds to help finance the construction of a project in China's Pearl River delta region.

The deal marks another important step in China's internationalisation of its currency and was made possible after Chinese regulators relaxed the rules on cross-border renminbi flows on June 17.

Hopewell...

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