HKSAR Government expresses gratitude for People's Bank of China's support to deepen mutual access between Mainland and Hong Kong financial markets
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The Financial Secretary, Mr Paul Chan, said, "As global investors' demand for RMB-denominated products grows, Hong Kong's role as a global offshore RMB business hub and risk management centre becomes increasingly important. With the strong support from our country, the HKSAR Government is committed to deepening and expanding mutual access between the Mainland and Hong Kong financial markets, continuously enriching RMB-denominated investment products and risk management tools to meet the needs of investors both domestically and internationally. The series of measures announced today by the PBoC, ranging from supporting overseas institutional investors in conducting repo business in the Mainland's bond market, expanding and optimising the Swap Connect mechanism and increasing its trading quota, supporting the Hong Kong market in providing more offshore RMB assets, to accelerating the listing of RMB treasury bond futures in Hong Kong, all provide strong support for our efforts and further promote the co-ordinated development of the fixed income markets in both places. We sincerely thank the Central People's Government and relevant authorities for the care and support for Hong Kong, and will continue to do our utmost to contribute greater efforts to our country's development into a financial powerhouse."
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "The issuance of RMB bonds in Hong Kong has increased year by year, exceeding RMB1 trillion in 2024. Since the implementation of Swap Connect in 2023, it has operated smoothly with steadily increasing business volume. The average daily notional principal amount traded in August 2025 reached RMB20 billion, an over five-fold increase from the first month of its launch in 2023. With increasing participation by offshore investors in the Mainland's bond market, demand for related risk management tools is growing. Enhancing the Swap Connect mechanism will further facilitate overseas investors in hedging risks in Mainland assets, thereby helping them better manage their portfolios. We will also communicate and work closely with relevant Mainland institutions to enrich the options of RMB products in Hong Kong and implement the launch of offshore treasury bond futures expeditiously. We are grateful to the Central People's Government and relevant Mainland regulators for their strong support."
Market institutions in both places will finalise the implementation details and announce the relevant launch dates.
Ends/Thursday, September 25, 2025
Issued at HKT 17:56
Issued at HKT 17:56
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