The Guangdong Provincial Government plans to issue offshore RMB local government bonds in Macao not exceeding 25 billion yuan by 2025.

The Guangdong Provincial Department of Finance issued a notice regarding the formation of an underwriting team for the issuance of local government bonds from Guangdong Province to Macau in 2025. The Guangdong Provincial Government plans to continue issuing offshore RMB local government bonds in the Macau Special Administrative Region in 2025, with a scale not exceeding 2.5 billion yuan and a term not exceeding 10 years.