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New harbourfront space opens

The Development Bureau announced that the Pierside Precinct near Wan Chai Ferry Pier further opened today, providing a nostalgic harbourfront leisure space with a panoramic view of Victoria Harbour for the public.   Being the 12th harbourfront leisure space that opened since October last year, the newly opened area is located to the east of the ferry pier on a harbour site reclaimed for the construction of the Central-Wan Chai Bypass.   The bureau said under the incremental approach, a 180-metre-long promenade of the precinct opened earlier in March, followed by the opening of a further 80m in October.   With an area of about 4,600 sq m, the newly opened part has almost doubled the precinct's original space.   In contrast to the colourful cartoon style adopted at other harbourfront sites opened earlier in Western District and Wan Chai, the precinct mainly comprises simple fair-faced concrete and wooden structures.   It features a stylish touch with its clear and rectiline

Green bond issuance successful

The Government today announced the successful offering of RMB5 billion offshore renminbi green bonds under the Government Green Bond Programme.   This is the Government's inaugural offering of renminbi-denominated bonds. The offering comprises two tranches of RMB2.5 billion three-year and RMB2.5 billion five-year.   The green bonds saw strong demand from diversified group of investors despite recent market volatility, and 54% of the issuance size was distributed to banks, 35% to fund managers, private banks and insurance companies, and 11% to supranationals, official institutions and corporates.   Financial Secretary Paul Chan said this landmark offering by the Government further enriches the range of offshore renminbi financial products available in Hong Kong, consolidates the city's role as the premier offshore renminbi centre and contributes to promoting the internationalisation of the renminbi.   Mr Chan explained that the offering also strengthens the Hong Kong platform to better serve renminbi issuers who raise green financing in support of low carbon transition efforts.   “Together with the US dollar and euro-denominated green bond offerings last week, it demonstrates our continued commitment to further develop the green bond market through piloting issuances with different parameters,” he added.   The green bonds are expected to be settled on November 30 and listed on the Hong Kong Stock Exchange and the London Stock Exchange.   Proceeds raised under the programme will be used to fund projects that will improve the environment and facilitate the transition to a low carbon economy.
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