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Hong Kong, China regulators approve 'Bond Connect' scheme

Initially only foreign and HK investors will be able to trade Chinese bonds; there'll be no quota for such investments

Published Tue, May 16, 2017 · 09:50 PM
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Hong Kong

HONG Kong and Chinese regulators said on Tuesday they had formally approved a long-awaited scheme to connect China's US$9 trillion bond market with overseas investors, another key step 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 (HKMA), which regulates Hong Kong's bond market, and the People's Bank of China said they had formally approved the China Foreign Exchange Trade System (CFETS) & National Interbank Funding Centre, China Central Depository & Clearing and Shanghai Clearing House as the main Chinese fixed income infrastructure providers for the …

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