Abstract : The Hong Kong Monetary Authority (HKMA) is studying the framework of Southbound Bond Connect with the People's Bank of China (PBOC), an HKMA spokesperson said Wednesday.
HONG KONG, Dec. 2 (Xinhua) — The Hong Kong Monetary Authority (HKMA)
is studying the framework of Southbound Bond Connect with the People’s
Bank of China (PBOC), an HKMA spokesperson said Wednesday.
The two sides will form a working group to take forward the study and
engage the industry as appropriate, the spokesperson said, adding that
more details will be announced when available.
Launched more than three years ago, Bond Connect links mainland and
Hong Kong markets, granting overseas investors easier access to the
enormous market of the Chinese mainland. The program has won the
recognition of global investors.
“When discussing the features of Southbound Bond Connect with the
mainland authorities, we will consider how best to support the two-way
opening up of the mainland’s financial markets, ensure proper risk
controls, as well as to promote the development of Hong Kong’s bond
market and strengthen Hong Kong’s status as an international financial
center,” the spokesperson said.
Eddie Yue, Chief Executive of the HKMA, said Southbound Bond Connect
will further enhance the mutual access between the capital markets and
facilitate mainland investors’ diversified asset allocation, while
consolidating Hong Kong’s role as the intermediary for capital flowing
into and out of the mainland.
“It will generate enormous opportunities for Hong Kong’s financial services industry,” Yue said. Enditem
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Source: Hong Kong, mainland studying framework of Southbound Bond Connect