People’s Daily reports that China’s Ministry of Finance has issued a €4 billion euro-denominated sovereign bond in Luxembourg. The issuance was split equally between a 4-year tranche (€2 billion at 2.401 percent yield) and a 7-year tranche (€2 billion at 2.702 percent yield). Demand was exceptionally strong, with total subscriptions reaching €100.1 billion, 25 times the issue size.
This marks China’s first euro-denominated sovereign bond issuance in Luxembourg. The bonds will be listed on both the Luxembourg Stock Exchange and Hong Kong Exchanges and Clearing, enhancing their liquidity and international accessibility. The Finance Ministry stated that the issuance reflects China’s commitment to integrating into global markets, deepening international financial cooperation, and providing diverse investment opportunities for foreign investors.
Source: People’s Daily, November 21, 2025
https://world.people.com.cn/n1/2025/1121/c1002-40608385.html