| Tender Result |
| ********************************************************************* |
| Tender Date |
: |
10 December 2025 |
| Bonds available for Tender |
: |
2-year RMB Bonds |
| Issuer |
: |
The Ministry of Finance of the People’s Republic of China |
| Issue Number |
: |
BCMKFB25004 (Further Issuance) |
| Issue and Settlement Date |
: |
12 December 2025 |
| Maturity Date |
: |
21 February 2027 (or the closest coupon payment date) |
| Coupon Rate |
: |
1.75 % |
| Application Amount |
: |
RMB 11,571 million |
| Issue Amount |
: |
RMB 2,000 million |
| Average Accepted Price |
: |
100.39 |
| Lowest Accepted Price |
: |
100.38 |
| Highest Accepted Price |
: |
100.47 |
| Allocation Ratio (At Lowest Accepted Price) |
: |
Approximately 82.50 % |
| Tender Result |
| ********************************************************************* |
| Tender Date |
: |
10 December 2025 |
| Bonds available for Tender |
: |
3-year RMB Bonds |
| Issuer |
: |
The Ministry of Finance of the People’s Republic of China |
| Issue Number |
: |
BCMKFB25005 (Further Issuance) |
| Issue and Settlement Date |
: |
12 December 2025 |
| Maturity Date |
: |
21 February 2028 (or the closest coupon payment date) |
| Coupon Rate |
: |
1.80 % |
| Application Amount |
: |
RMB 11,640 million |
| Issue Amount |
: |
RMB 3,000 million |
| Average Accepted Price |
: |
100.79 |
| Lowest Accepted Price |
: |
100.75 |
| Highest Accepted Price |
: |
100.96 |
| Allocation Ratio (At Lowest Accepted Price) |
: |
Approximately 42.78 % |
| Tender Result |
| ********************************************************************* |
| Tender Date |
: |
10 December 2025 |
| Bonds available for Tender |
: |
5-year RMB Bonds |
| Issuer |
: |
The Ministry of Finance of the People’s Republic of China |
| Issue Number |
: |
BCMKFB25006 (Further Issuance) |
| Issue and Settlement Date |
: |
12 December 2025 |
| Maturity Date |
: |
21 February 2030 (or the closest coupon payment date) |
| Coupon Rate |
: |
1.88 % |
| Application Amount |
: |
RMB 13,306 million |
| Issue Amount |
: |
RMB 2,000 million |
| Average Accepted Price |
: |
101.03 |
| Lowest Accepted Price |
: |
100.92 |
| Highest Accepted Price |
: |
101.53 |
| Allocation Ratio (At Lowest Accepted Price) |
: |
Approximately 33.33 % |
Source: Hong Kong Monetary Authority
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