China's central government is to issue 8 billion yuan (1.20 billion U.S. dollars) of Renminbi (RMB) treasury bonds in Hong Kong Special Administrative Region.

The announcement was made in a statement on the website of the Ministry of Finance (MOF) Monday, but it did not give specific dates.

A total of 5 billion yuan of the T-bonds will be issued to institutional investors, including 2 billion yuan of three-year T-bonds, 2 billion yuan of five-year T-bonds and 1 billion yuan of 10-year T-bonds.

The other 3 billion yuan of two-year T-bonds will be available to individuals.

The move would further boost the prosperity of Hong Kong, develop Hong Kong's RMB bonds market and strengthen Hong Kong's position as an international financial center, the statement said.

It will be the second central government issue of yuan-denominated treasury bonds outside the Chinese mainland after the first launch was made in Hong Kong in 2009.