Financial Secretary Paul Chan Mo-po said Wednesday that Hong Kong Exchanges and Clearing's acquisition of a 20 percent stake in the city's central securities depository represents "a critical step in accelerating efficient financial infrastructure connectivity," emphasizing the strategic importance of the HK$4.55 billion deal during its signing ceremony.
The partnership between HKEX (0388) and the Hong Kong Monetary Authority's CMU OmniClear will "drive leapfrog development in Hong Kong's financial markets," Chan stated, noting that the collaboration between the city's bourse operator and de facto central bank would "create favorable conditions for accelerating and deepening the development of Hong Kong's international financial market."
Chan highlighted that the enhanced infrastructure would improve investment efficiency and attract more international investors to allocate mainland assets including Chinese government bonds, while also exploring interoperability between bonds and assets held in both institutions' depositories as collateral.
The initiative will additionally incorporate digital assets such as tokenized bonds and stocks, strengthening Hong Kong's position as both a global offshore yuan center and emerging risk management hub, he said.
