Goldman Sachs Chairman and CEO Henry M. Paulson said Friday the
huge success that China achieved in global bonds shows the strong
confidence of international investors in China's economic
growth.
China issued global bonds worth 1.5 billion US dollars last
Thursday in New York that attracted unexpected investment
enthusiasm. Goldman Sachs is one of the major underwriters.
Paulson said that international investors have been watching
China closely. They are very impressed with China's leadership,
social stability and economic progress.
The success of China's manned space program is also great news
for them, Paulson said.
Paulson also spoke positively on the performance of China's
issuance team.
"The team led by China's vice minister of finance Li Yong has
done an outstanding job in the road show", Paulson said, noting
that the team had conveyed many positive messages about China's
economy to international investors.
The raise of the ceiling for China's foreign currency bonds and
long-term foreign currency bonds to A2 from A3 by International
rating agency Moody's Investors Service also "psychologically came
at the right time", Paulson said.
China's Vice-Minister of Finance Li Yong told an international
forum Wednesday that the issuance of the global bonds would
establish a good communication mechanism with international
investors for the country and the landmark transaction would help
China rearrange its bond business.
(Xinhua News Agency October 31, 2003)