Hong Kong to list first Shanghai free-trade zone bond to defend yuan hub status

Hong Kong is set to welcome its first Shanghai free-trade zone offshore bond, using the landmark listing to defend its status as the world’s pre-eminent yuan-hub" class="entity-link entity-topic" data-entity-id="151215" data-entity-type="topic">offshore yuan hub, amid mounting competition from its mainland rival.Hong Kong Exchanges and Clearing announced on Thursday that Shanghai-electric-global-capital" class="entity-link entity-organization" data-entity-id="185158" data-entity-type="organization">Shanghai-electric" class="entity-link entity-organization" data-entity-id="182524" data-entity-type="organization">Shanghai Electric Global Capital – a financing arm of power and industrial equipment manufacturer Shanghai-electric" class="entity-link entity-organization" data-entity-id="182524" data-entity-type="organization">Shanghai Electric – would list a 1.5 billion yuan (US$222.4 million) green free-trade zone bond on August 20.The three-year note, which carries a 1.8 per cent coupon, is set to be the first time a non-financial corporate free-trade zone offshore bond has been brought to market.