The 4 billion euros sovereign bond issuance included the 3-year tranche of 1.5 billion euros with a yield rate of -0.192 percent; the 7-year tranche of 1.5 billion euros with a yield rate of 0.216 percent;and the 12-year tranche of 1 billion yuan with a yield rate of 0.759 percent.

This was the third consecutive year of such issuance since the Ministry of Finance resumed the issuance of sovereign bonds in euros in 2019.

The bonds of all three terms were all issued at a premium of minus 10 basis points. The coupon rate of the three-year bonds was 0 percent while their yield rate was in line with the euro bond pricing benchmark (mid-swap rate) for the first time.

MOF has selected Hong Kong's Central Moneymarkets Unit (CMU) as the clearing system for the 12-year euro sovereign bonds, in an effort to promote the construction of Hong Kong's financial infrastructure.

The issuance triggered strong market response with the active subscription by institutional investors, including international organizations, central banks, sovereign wealth funds, long-term pension funds, commercial banks, and insurance companies, with a subscription rate of 4.3 times.

The successful issuance has further improved the yield curves of euro sovereign bonds, provided a pricing benchmark for Chinese issuers, and helped to guide market expectations.

It has also demonstrated the country's determination to further promote high-level opening-up and reflected the international community's confidence in the prospects of China's economic and social development.