Finance Minister Michael de Jong travels to Malaysia and Hong Kong to meet with investors Nov. 10-14, 2014, where he will discuss B.C.’s LNG opportunity, balanced budget, triple-A credit rating, and the possibility for Canada to become a renminbi trading hub. He will also promote the success of the Province’s recent renminbi bond issue with Hong Kong’s financial community.

In Hong Kong, de Jong and senior finance ministry officials will meet with investors interested in buying British Columbia bonds in the international and Canadian capital markets. The meetings present an excellent opportunity for highlighting the Province’s favourable credit story and generating Asian investor demand for B.C. bonds when the province comes to market. A strong investor following supports relatively low borrowing costs for provincial taxpayers.

In November 2013, B.C. became the first foreign government to issue bonds in the Chinese renminbi (CNH) market. This October, the province capitalized on the success of its first offering in the renminbi market and offered a two-year, RMB 3 billion bond, which was quickly oversubscribed and placed with investors around the world. The issue was the largest ever by an international issuer in the CNH market, equalling the United Kingdom’s recent renminbi bond.

The estimated travel and accommodation cost for the minister and his chief of staff is approximately $12,500. Detailed information on final amounts will be made available.

Minister de Jong will be available to speak with the media about his upcoming trip prior to his departure.

Date: Saturday, Nov. 8, 2014

Time: 11:30 a.m.

Location:
near The Spirit of Haida Gwaii: The Jade Canoe statue
International terminal, level three
Vancouver International Airport

Media Contacts:

Jamie Edwardson
Communications Director
Ministry of Finance
250 888-0021