Over RMB4b transaction recorded on first day of Southbound Trading

Finance | 24 Sep 2021 8:26 pm

Southbound Trading under Bond Connect is officially launched on Friday, with more than 150 transactions amounting to a total of around RMB4 billion on the first trading day.

The scheme under Bond Connect aims to provide a channel for Mainland institutional investors to invest in offshore bonds through the Hong Kong bond market.

Eddie Yue Wai-man, chief executive of Hong Kong Monetary Authority, welcomed the launch of Southbound Trading.

“While meeting the demand of the Mainland market, it [the scheme] will also give new momentum to the development of Hong Kong's bond market,” he said.

“Southbound Trading further deepens mutual access between the Mainland and Hong Kong bond markets and enhances the linkage between financial infrastructure of the two places,” he continued.

The authority said they will continue working with the People's Bank of China and other relevant institutions to promote Southbound Trading and ensure the smooth and orderly operation of the scheme.

They will also maintain close liaison with the industry, and review and enhance the operational arrangement of Southbound Trading from time to time, according to actual operation and market development needs.

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October 2021

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