Hong Kong Financial Secretary Paul Chan Mo-po said worries about fundraising from government bond issuances are useless following the undersubscription of retail infrastructure bond issuances, The Standard reported Monday.

Subscription for the bonds ferached HK$17.8 billion, lower than the subscription target of HK$20 billion, the report said.

Chan allayed fears regarding the lukewarm reception for the bonds as the international portion of the tranche was oversubscribed three to four times, the report said.

Hong Kong residents also have other investment options, while the initial public offering market is making a rebound, The Standard said.

Chan said the city will also be prudent in finding more revenue sources to reduce the burden of residents, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)