Bond Connect works towards early launch

Hong Kong Monetary Authority chief executive Eddie Yue Wai-man yesterday said the regulator is working with the People's Bank of China on the design parameters for the Southbound Bond Connect with a view to an early launch of the scheme. The scheme recorded an average daily turnover of nearly 30...

Winnie Lee

Thursday, March 04, 2021

Hong Kong Monetary Authority chief executive Eddie Yue Wai-man yesterday said the regulator is working with the People's Bank of China on the design parameters for the Southbound Bond Connect with a view to an early launch of the scheme.
The scheme recorded an average daily turnover of nearly 30 billion yuan (HK$36 billion) last year, accounting for 52 percent of foreign investors' total turnover in the China interbank bond market.
Yue said the local bond market was underestimated. According to a report released by International Capital Market Association, Hong Kong is the largest center for Asian international bond issuance, capturing 34 percent or US$196 billion (HK$1.53 trillion) of Asian international bonds in 2020, followed by the US with 18 percent, the UK with 17 percent and Singapore with 5 percent.