According to a report by the Ministry of Finance's press office on November 5, with the approval of the State Council, the Ministry of Finance will issue Renminbi green sovereign bonds in Canada on the week of November 9, 2026. The total size of the issuance will not exceed 4 billion Renminbi. Details regarding the issuance arrangements will be announced separately before the issuance.
This is China's first attempt to issue sovereign bonds denominated in RMB in Canada. It will also be the first time that the Ministry of Finance has expanded the place where offshore RMB bonds can be issued beyond Hong Kong, Macau, and London.
Overseas Chinese Bank's Interest Rate Strategy Director Zhang Min told Bloomberg: 'This is a step towards expanding the offshore RMB ecosystem at the geographical level. Issuing RMB bonds in Canada helps local investors learn more about RMB products, and such investors may not have been actively involved in the offshore RMB market before.'
According to the information on the Ministry of Commerce's website, on November 3rd, Wang Wentao, Minister of the Ministry of Commerce, and Jordain Seddiu, Minister of International Trade of Canada, jointly hosted the 29th China-Canada Economic and Trade Joint Committee (first ministerial meeting) in Beijing. Both parties had frank and in-depth discussions on China-Canada economic and trade relations, cooperation in traditional and emerging fields, as well as mutual economic and trade concerns.
Wang Wentao said that under the strategic guidance of the leaders of both countries, recent economic and trade consultations between China and Canada have made positive progress, including further extending the relevant exemption measures for the preliminary joint arrangements.
On November 4th local time, the Canadian government announced in a press release following the meeting that China and Canada have agreed to extend the mutual tariff exemption measures until the end of 2028.
