China's Ministry of Finance issued 12 billion yuan ($1.69 billion) of renminbi-denominated treasury bonds in Hong Kong on Wednesday, marking the first batch of issuance this year.

The issuance was comprised of 3 billion yuan worth of two-year bonds, 3 billion yuan of three-year bonds, 3 billion yuan of five-year bonds and 3 billion yuan of ten-year bonds.

Qu Qiang, research fellow at Minzu University of China, noted in an interview with CGTN that the bonds offer competitive interest rates for international investors. "[They] are very attractive for those investors who would like to anchor their portfolio to a stable value and also fight it against the turbulence of international financial risks," said Qu.

This is the sixteenth consecutive year that the ministry has issued RMB treasury bonds in Hong Kong, with the total scale exceeding 300 billion yuan.

It will contribute to the attraction of foreign capital as well as help solidify Hong Kong's position as an international financial hub and the world's top offshore yuan settlement center, Qu told CGTN.