Find out more at btsub.sg/btdeal
You are here
Hong Kong Exchange to work quickly to build a China bond connect scheme
[HONG KONG] Hong Kong Exchanges and Clearing's (HKEx) chief executive Charles Li said on Tuesday he will "work very quickly" to build a bond trading scheme with China similar to a landmark stock program launched in 2014.
The Shanghai-Hong Kong Stock Connect had promised to open up China's capital markets to foreign investors, heralding bolder stock market reforms with the ultimate goal of full capital account convertibility.
But an onshore stock market crash in 2015 and weak markets - Chinese stocks are among the worst performing in Asia this year - has prompted the exchange to widen its focus to adding more currency and fixed-income products to its menu.
At a launch ceremony for a new currency index, Mr Li also said 2016 will be a big product year focusing on the yuan foreign exchange rate.
More yuan currency futures contracts are expected to be launched by June in euro-yuan, yen-yuan, Australian dollar-yuan which will be settled in the yuan, and yuan-US dollar futures that will be settled in the US dollar, the bourse said in a statement in April.