Skip to main content

Hong Kong aims to launch southbound Bond Connect in 2021: finance secretary

Abstract : Paul Chan, the financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said Wednesday that Hong Kong aims to launch the southbound trading of Bond Connect this year.

HONG KONG, Feb. 24 (Xinhua) — Paul Chan, the financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said Wednesday that Hong Kong aims to launch the southbound trading of Bond Connect this year.

While delivering the annual budget in the Legislative Council, Chan said the Hong Kong Monetary Authority and the People’s Bank of China have set up a working group to drive the initiative. “We target to expand the Bond Connect to cover both southbound and northbound trading.”

Launched in 2017, Bond Connect links the mainland and Hong Kong markets, granting overseas investors easier access to the enormous market of the Chinese mainland. If southbound trading is launched, mainland investors will be offered a new channel to participate in bond markets of Hong Kong and overseas.

The implementation of southbound trading will further facilitate the mainland investors to make diversified asset allocation and present enormous opportunities for Hong Kong’s financial industry, Chan said.

Hong Kong’s bond market ranks the third in Asia, excluding Japan, in terms of total amount of bond issuance. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: Hong Kong aims to launch southbound Bond Connect in 2021: finance secretary

Labels:

Comments

Post a Comment

Popular posts from this blog

China’s Xiamen posts 1,000 China-Europe freight train trips

Abstract : Xiamen, a coastal city in east China's Fujian Province, Wednesday saw the 1,000th China-Europe freight train trip since the city launched the service in 2015. The X8098 train leaves Haicang station in Xiamen of east China’s Fujian Province for Hamburg, Germany, bringing the number of train trips of China-Europe freight train service to 1,000 on June 2, 2021. (Xinhua/Lin Shanchuan) XIAMEN, June 2 (Xinhua) — Xiamen, a coastal city in east China’s Fujian Province, Wednesday saw the 1,000th China-Europe freight train trip since the city launched the service in 2015. With 50 carriages loaded with daily necessities, auto parts and other goods, the X8098 train left the Haicang station of Xiamen for Germany Wednesday morning, bringing the number of train trips of such service to 1,000. Launched in August 2015, Xiamen’s rail cargo service to Europe and Central Asia has so far transported nearly 80,000 TEUs of goods worth more than 3 billion U.S. dollars, which...
Post a Comment
Read more

BYD new-energy vehicle sales nearly double in April

Abstract : China's leading new-energy vehicle (NEV) manufacturer BYD reported surging sales in April, company data showed Saturday. Workers work on the assembly line at a factory of vehicle manufacturer BYD Auto in Xi’an, northwest China’s Shaanxi Province, Feb. 25, 2020. (Xinhua/Liu Xiao) SHENZHEN, May 8 (Xinhua) — China’s leading new-energy vehicle (NEV) manufacturer BYD reported surging sales in April, company data showed Saturday. In a filing with the Shenzhen Stock Exchange, the Shenzhen-based company said its sales of NEVs, including purely electric vehicles and plug-in hybrid electric vehicles, surged 97.5 percent year on year to 25,662 units in April. In the January-April period, BYD sold 80,413 NEVs, up 128.5 percent year on year. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,BRI Trade,BRI Investmen...
Post a Comment
Read more

Xinhua Commentary: Belt and Road gains momentum in challenging times

Abstract : Entering its eighth year of solid progress, the Belt and Road Initiative (BRI) is injecting growing impetus and stability into global cooperation in a world of uncertainties. BEIJING, April 28 (Xinhua) — Entering its eighth year of solid progress, the Belt and Road Initiative ( BRI ) is injecting growing impetus and stability into global cooperation in a world of uncertainties. Just days ago at the Boao Forum for Asia annual conference, Chinese President Xi Jinping likened the BRI to “a public road open to all” rather than “a private path owned by one single party.” His use of this analogy indicates that China, as the initiator of the BRI, endeavors to share opportunities with the rest of the world. Faced with the unprecedented challenges of COVID-19 , rising unilateralism and increasing protectionism, the world requires closer ties among all nations. Against this backdrop, the BRI is particularly valuable for cementing connectivity, bridging differences and advancing...
Post a Comment
Read more