Chen Maobo: Issuing infrastructure retail bonds to promote civic "participation" and also to finance infrastructure projects.

The Hong Kong government announced today the issuance of infrastructure retail bonds for subscription by Hong Kong residents. Hong Kong Financial Secretary Paul Chan Mo-po stated on social media that the issuance of infrastructure retail bonds provides citizens with a safe and reliable investment option with stable returns, allowing citizens to have a greater sense of participation and benefit in driving long-term development of infrastructure projects in Hong Kong, while also financing infrastructure projects for the early completion of projects that benefit the economy and livelihood. He believes that this issuance of bonds will further promote the development of the retail bond market and inclusive finance. He mentioned that in this year's budget, it was announced that 20 billion Hong Kong dollars' worth of retail bonds would be issued, with the government potentially raising the target issuance amount to a maximum of 25 billion Hong Kong dollars based on subscription response. This batch of bonds is the retail portion under the infrastructure bond program. The proceeds from the bond issuance will be allocated to the Capital Works Reserve Fund for investment in infrastructure projects according to the planned framework. The government will announce the allocation of funds raised annually.