MACAO – The Macao Special Administrative Region (SAR) government said on Monday that the central government of China will issue 6 billion yuan ($884 million) of sovereign bonds to professional investors in the Macao SAR on Aug 20.

A joint announcement made by China's Ministry of Finance and the Macao SAR government noted that the issuance of renminbi-denominated sovereign bonds in Macao for the fifth consecutive year demonstrates the central government's strong support for Macao's appropriate economic diversification and for enhancing the competitiveness of its featured financial sector.

The issuance features a more diversified structure, which will further improve the regular issuance mechanism and provide investors with more secure and stable renminbi-denominated investment options, according to the announcement.