The Ministry of Finance of the People’s Republic of China and the Macao Special Administrative Region (MSAR) Government jointly announced today (9 July) the issuance of RMB-denominated sovereign bonds totalling RMB 6 billion in Macao by the Central Government on 16 July 2025.  The continued issuance of RMB-denominated sovereign bonds in Macao demonstrates the Central Government’s support for the MSAR Government in expediting the cultivation of bond market and other new financial businesses, thereby advancing the appropriate diversification of the economy. This marks the fourth consecutive year of RMB-denominated sovereign bond issuance in Macao by the Central Government, with a steadily increasing issuance size, which is conducive to further optimising a regular issuance mechanism, providing investors with a secure and stable investment option.  It also serves as an active force in enhancing Macao’s bond market infrastructure, diversifying the investor structure, as well as expediting the connection with international markets.