Hong Kong unveils roadmap to boost fixed income and currency markets

Hong Kong’s equity regulator and de facto central bank jointly unveiled a roadmap on Thursday aimed at positioning the city as a global hub for fixed income and currency markets, by fostering demand, liquidity and innovation.

The Securities and Futures Commission and the Hong Kong Monetary Authority said the roadmap outlines key initiatives across the four pillars of primary market issuance, secondary market liquidity, offshore yuan business, and next-generation infrastructure.

Among 10 proposed measures, the roadmap seeks to attract more issuers to Hong Kong, provide risk and liquidity management tools for investors and issuers, expand offshore yuan usage, and develop infrastructure to facilitate market innovation, the authorities said.

The roadmap is poised to guide the market evolution that will benefit issuers, investors and intermediaries alike for years to come, said Kelvin Wong Tin-yau, SFC's chairman.

"We will continue to build on our strengths, adapt to market changes and innovate, and capitalise on emerging trends, including yuan internationalisation and the digitalisation of the FIC market," said HKMA chief executive Eddie Yue Wai-man.

The roadmap reflects SFC's close collaboration and shared commitment with the HKMA, industry partners and other stakeholders to enhance the city’s vital role in bridging mainland and international capital markets, said Julia Leung Fung-yee, chief executive of the SFC.

STAFF REPORTER