You are here

Hong Kong, China regulators say approve "Bond Connect" scheme

[HONG KONG] Hong Kong and Chinese regulators said on Tuesday they had formally approved a long-awaited scheme to connect China's US$8 trillion bond market with overseas investors, in another milestone in the opening up of China's capital markets.

Plans for a "Bond Connect" programme have been in the works since Beijing launched a scheme allowing two-way trading between the Hong Kong and Shanghai stock markets in 2014, but the authorities have provided few details on the mechanics or the timeline.

The Hong Kong Monetary Authority, Hong Kong's bond market regulator, and the People's Bank of China said trading will initially commence "Northbound" only, meaning only foreign and Hong Kong investors will be able to trade Chinese bonds initially.

The regulators said the launch date of the scheme will be unveiled later.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom