You are here

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

Tuesday, May 16, 2017 - 20:22

[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:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom