Zhuhai Huafa issues first corporate digital bond in Hong Kong, Macau

The state-backed conglomerate's move should pave the way for future corporate issuances in 2025, which could make use of the HKMA’s grant scheme.

Zhuhai Huafa Group, a state-owned urban and property developer in China’s Guangdong province, issued an inaugural 3-year Rmb1.4 billion ($191 million) guaranteed digital native bond late last year in December, becoming the first corporate entity to issue such bonds on blockchain-based digital networks.

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