Guangdong, Shenzhen plan bonds in Hong Kong and Macau, marking first offshore local government debt sales

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China’s southern tech hub of Shenzhen and the economic powerhouse Guangdong province plan to issue offshore bonds in Hong Kong and Macau, marking the first direct offshore debt sales by the country's local governments.

Shenzhen plans to sell up to 5 billion yuan ($772 million) worth of yuan-denominated local government bonds in Hong Kong, said the Shenzhen Finance Bureau. Guangdong provincial finance authority said it will sells yuan-denominated bonds in Macau to enhance the development of the Greater Bay Area, without disclosing the specific amount of the debt.

The two governments . . .

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