HK's Tsang pledges HK$10bn iBond in budget

Hong Kong will launch a new round of inflation-linked retail bonds this year, the city’s financial secretary, John Tsang, announced in his government budget speech yesterday. He also pledged to secure an increase in Hong Kong’s offshore renminbi quota after it was exhausted late last year. However, Tsang gave no firm commitment on the introduction of mutual fund recognition. Tsang stated that a new three-year iBond of HK$10 billion ($1.3 billion) would be issued, although he was…